Here’s the latest press about Monzo with lots of news in it
& he goes (even more?) on the record with this quote
“We’re opening more accounts every month than any UK bank,”
Interestingly, Eileen Burbidge, the London tech star behind Passion Capital, says she initially wanted to back Starling but then funded Monzo instead. She says it was “always about Tom”. She also invested in GoCardless.
Each card costs us £50 or £60 a year,” he explains. “Moving onto the current account will bring the losses down to £20 a year and then it’s about making revenue”.
He says a recent survey they did suggested more than half of users would trust Monzo enough to put their entire salaries into its current account.
Another funding round is approaching, likely to be more than its last £22 million, but under £100 million.
He’s drawing up plans for a new office in Wales and probably another in Dublin or Berlin for post-Brexit EU passporting. In 12 months, Monzo will have 400 employees, he says.
Plans for its its own headquarters are even on Blomfield’s mind.
Imagining what they would look like, he suggests with a chuckle: “a giant M over Canary Wharf.” He’s so ambitious, I can’t even tell if he’s joking.