Monzo in the media

Lonely Planet seem to think it is possible


Oh yes it’s certainly possible, I mean you can do it in about 2-3 days if you really want. It just isn’t a very good idea

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Don’t see why not. Atom did, without sacrificing support hours or quality.


I’m all for employee benefits and holiday, but this is a pretty bold move considering the company has yet to make a single pound of profit…


They could be in profit and could have been for months as far as we know. We only hear of it annually.

The staff holding the fort should be considered whilst growth is the intent. Business can’t grow without staff, treat them well they will stay.


I like your optimism…

Makes a nice change for a bank not to be making a huge profit from other peoples money …

Seriously? You do realise that a business ultimately has to make profit… investors will eventually get tired of losing money.


Not necessarily. Starling announced the month it became profitable. By the time the annual report came around everyone knew it had been profitable and was expecting it to have continued being profitable.


Uber has only just recently started to turn a profit, and they’re a lot older than Monzo. Also Monzo have just raised more money. I don’t really think investors will be tired for a while.

Investments like this tend to be for 5-10 years till IPO - if not longer term.

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That was how Starling wanted to do it and I’m sure if Monzo was awarded the bounceback scheme they’d probably be quids in too (total guess).

This year is the year I reckon :crossed_fingers:t3:

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Very much agree. I’m sure the moment Monzo becomes profitable they’ll be announcing it, increases their value for one.

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Uber was growing at a phenomenal rate in that time too though, it was becoming the worldwide go to for a taxi app and trouncing it’s competitors.

It’s difficult to compare that to a bank that exists in one or two markets and has lots of competition really. All the fintechs know they need to find a profitable model to succeed, which is why they are all trying to.

Indeed, several people have done it.

For instance, it was done in 1989 by Michael Palin who was followed by a BBC TV crew.

I believe a female journalist was the first to do it in 1889.

People have sailed around the world in about half that time now, not a huge surprise it’s possible by airplane. 53 hours is the record for commercial flights apparently.

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I was listening to the All In Podcast, which is hosted by 4 VCs, who know their stuff, and the average time from start up to profitability is about 12 years, and most VCs are comfy with that. Considering Monzo are only half way through that, and moving in the right direction in terms of growth and revenue, we should all collectively chill out.

This does seem also to be a British thing, and why British tech firms try not to IPO in London, because of this attitude towards the time needed.


I suppose I should put a flag on my posts to indicate level of seriousness …

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Emojis can help convey tone :slight_smile:

Emojis can help convey tone :roll_eyes:

Emojis can help convey tone :angry:

Emojis can help convey tone :see_no_evil:


Surely the statement itself, in the context of the larger conversation, is enough to imply meaning?

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I think the VCs for Monzo are not primarily British? And Monzo has been pushing for profitability for several years now, I don’t think they’ve got that strategy wrong.

There’s a difference between being ‘unprofitable’ because you are spending money on growth, and unprofitable because your underlying model is loss making. When Monzo were losing circa £100 million a year just to keep the business running that was clearly an issue, it meant they had to keep raising huge amounts of cash or go under. They pulled back on marketing and customer growth just because rapid growth would have increased the losses - that’s a big issue for any business. I think Monzo were right to address that and I really doubt their VCs were saying ‘don’t worry about it’ - in fact the down round shows at one point it was difficult for them to raise money at all.

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