Key data:
- Old valuation: $4.5bn
- New valuation: $5bn
- Amount raised: 430m
Some key quotes:
led by Alphabet’s investment fund
many other high-profile start-ups to suffer significant down rounds in the past two years
[Monzo] announced plans to re-enter the US, this time via a banking partnership that would allow it to bypass a licence application
While Monzo made a pre-tax loss of £116mn in 2023 — largely because of a surge in loan impairments stemming from the rapid growth of its buy now, pay later product — Anil said he expected to turn a profit this year.
I’ve just realised that there’s a whole thread on this, so probably discussion is best over there.