To put a bit of perspective on losses - not saying that this will happen to Monzo - but most companies expect to have losses initially - Metro bank is now valued today at… £3.2Bn… after 7 years trading - a $200m funding round 2years after forming and with cumulative losses of $100m 4 years ago
from Metro bank wikipedia-
'Metro Bank PLC was granted its licence by the Financial Services Authority on 5 March 2010, the first high-street bank to be granted such a licence for over 150 years. It planned to open between 200 and 250 Stores in Greater London within 10 years of starting up. Its first Store opened on 29 July 2010 in Holborn.
In 2012, Metro Bank raised an additional $200 million in funding from investors including Fidelity, Steven A. Cohen of hedge fund SAC Capital Advisors, and New York real estate investors the LeFraks and David and Simon Reubens. In the same year, Forbes Magazine reported that Metro’s flagship Holborn branch had “…garnered $200 million in deposits, four times the total at the average mature American branch.”
On 2 May 2013 the Daily Telegraph reported that, following a loss of £8.8 million in the first quarter of 2013, Metro Bank’s pre-tax losses had exceeded £100 million in less than three years since its launch, but the bank stated that these were planned for, and were “a result of its growth initiatives”. In an interview with the Financial Times, Hill said the bank was "…in line with the business plan to rapidly grow this company,” he added. “Our primary goal is to expand the business . . . and profit certainly will come.”
Metro Bank increased its account holders by 50% in the first half of 2013 for a total of 200,000 customer accounts, including 15,000 business accounts. It was aiming to have 200 UK stores open by 2020. Metro Bank acquired SME Finance in August 2013, and rebranded the business as Metro Bank SME Finance in May 2014.’