If only there was a public counter or something that got the community excited and engaged over customer numbers.
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Each to their own, but I think the fact that Monzo doesn’t get bogged down with cheques and unusual business structures makes them more of a hot prospect for big investors and public markets. The markets want revenue, profits and user growth, not cheques, imho.
Also, a business doesn’t need to be fully mature and highly polished to list on a stock exchange.Even PensionBee has been listed for years and they are pants. I went to them with several old pensions and they said oh sorry we don’t do any of them, goodbye! 
If there is no Monzo IPO it will be because they can’t achieve the valuation desired by existing investors. If i recall Passion Capital agreed to have their money tied up for up to 10 years and that is rapidly approaching. Other investors will be different but most of them will be wanting to sell soon and an IPO enables easy selling for big investors, so Monzo’s board will have it at the forefront of their minds whether they like it or not. Most of the board will probably have been hired specifically with a view to an IPO as well, which may increase their motivation to get it done.
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I just received an Investor Update - some fantastic info in there:
● We grew to 7m customers, averaging 150k personal account sign-ups every month.
● 350k+ customers subscribed to either Monzo Plus or Monzo Premium and 200k
business owners now bank with Monzo.
● Revenues increased ~2.5x exceeding £440m in annualised revenue in December.
● We’ve been cash flow positive since October (which, simply put, means we’re
earning more cash than we’re paying out), and expect to break even this year.
● We grew to a team of 2,450 people, up 10% since January 2022.
● Customers voted us #1 Best British Bank, Best Banking App, and Best Business
Banking Provider at the 2022 British Bank Awards.
● We were named #1 bank for overall service quality and online and mobile banking
services in Great Britain (CMA) for a 5th time.
● We were voted the #1 startup where people in the UK want to work for the second
year, according to LinkedIn.
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I miss UK N26.
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