Monzo in the Media 📰

[Revels]

What about Monzo IRL?

[Carlo1460]

I have a few stickers around.

[Kumnaa]

Monzo in talks about multibillion pound sale to Brazil’s Nubank

[ianm]

Would be disappointed to see it happen, hopefully something can be done to stop that.

I assume there will be a fair few other long-term customers looking to move their banking away from them over this.

[dr_necessiter]

Yeah, but no.

But yeah.

[stephenjames]

I’m a mixed bag on this one. On one hand having held for over 10 years I really want to see a return, on the other hand I had hoped for an eventual IPO and see Monzo really grow as a global bank.

I know nothing of Nubank so I’m going to have to do some reading.

[betalogic]

Agree with @ianm on this one. It would be a real shame to lose another homegrown fintech success story to a foreign buyer - feels like the same story we’ve seen with ARM and others.

I can appreciate Nubank isn’t a strip and flip buyer, they’re a profitable operator who’d presumably want Monzo’s European growth story to keep running, but there’s something about UK companies never quite getting to become the global giant themselves nowadays that stings.

Hoping the funding round route wins out instead.

@ianm

I assume there will be a fair few other long-term customers looking to move their banking away from them over this.

I do however don’t think this will happen for the most part, people don’t tend to care about what goes on in the background, they just want their money kept somewhere safe, reliable and easy to access.

Changing bank for majority of people would just be an unwanted hassle, and they’ll still remain FCA regulated and FSCS protection regardless of who owns them.

[Carlo1460]

Nothing stops Nubank buying Monzo and changing it all over th Nubank.

[Sachaz (Sacha Zarb)]

If Nubank buys, it’s a pretty sad day as mentioned above for British Firms, another taken over because the UK capital markets are so bad

[JIMMWX (Village Idiot)]

@stephenjames

I had hoped for an eventual IPO

I’m sure there’s a proper term for this but I think Monzo is another “Silicon Valley effect” where people invest in the hope of unrealistic returns and richness. Not saying this is you of course.

It was never going to go that way. The US market isn’t the one for Monzo and the UK hates tech business. It’s why nothing can really IPO in London.

This will be an inevitable shame, it was likely always going to end this way, but what an amazing job getting it to the point where offers are being put on the table.

I wish the best for all the People involved if the M&A happens, some great talent there.

[Arthursmith]

This is great news - I don’t care who owns one, I just want my payout.

[lilica (Lore)]

Nubank user here…

Noticed the news in Reddit. Nubank can scale as south american markets (Brazil, Colombia and Mexico) are tough and there are lots of red tape yet they did it, but their services to consumers are no where near as the Monzo ones. Both will benefit greatly in my opinion. But… I do prefer the independence of Monzo.

[stephenjames]

Ultimately none of us will have a say … unless some of you are secret board members? … so I guess it’s just go along for the ride now.

Some on here are potentially looking at a very tasty payout, especially if the rumors of £10-12B are true. Someone who invested every round could see £100,000+ payout

[betalogic]

Sure, but that would be like changing Tesco to Soriana, a Mexican company majority of the UK/Europe will never have heard of - why do it when you’re buying a recognised brand

Keep the brand and merge the workings, sure - @lilica is right, it would probably benefit both greatly but I struggle to see how Nubank would help Monzo break into Europe more other than funding

[hannng]

@ianm

I assume there will be a fair few other long-term customers looking to move their banking away from them over this.

That would significantly drop my average accounts history. So depends how the app becomes, it’d be like…

@dr_necessiter

Yeah, but no.

But yeah.

The forum closure would probably upset me more than the M&A if I’m honest.

@JIMMWX

I wish the best for all the People involved if the M&A happens, some great talent there.

Probably why the Irish chief quit.

[lilica (Lore)]

I also have very very very tiny shares in Nubank when it floated in the NYSE. It was and still is a disruptor in south america. Just like Monzo when it started in the UK

[tired (I don’t need your rockin’ chair)]

@hannng

The forum closure would probably upset me more

Come to think of it now

[rarther]

Blow to City as Monzo could fall to Brazilian bank in £10bn takeover

This headline is the real reason why this takeover won’t happen.

I may have a tin foil hat on but I honestly believe the UK government was indirectly behind the Board shakeup and the company’s new vision to list in London instead of Nasdaq.

Monzo is one of the very few home grown companies that can save the LSE by having a huge IPO and it is more than a financial event for the UK at this stage.

Andy Burnham also flashes his Monzo card in public, so you can guess what he’d think about the UK’s biggest digital bank going to South America.

[Carlo1460]

I love the mentally people.

Nothing to do with labour.

[Arthursmith]

You rang