Open Office October – how Monzo makes money

For this month’s Open Office on October 30, we’re diving deep into the topic of how Monzo makes money.

Come along if you’re in London! If not, tune into the livestream and join the discussions on Twitter using #MonzoOpenOffice and here on the forum! Link to the livestream to follow.


Should be an interesting event, I’ll be sure to watch the live steam

Really interested to see what the plan is outside of loans and over draft fees.

Look forward to the livestream!


Would love to be able to attend, but unfortunately won’t be in London then :cry:.

Will be interesting to watch though :eyes:

Very interested in this.
I’ll be there.

Thanks for letting us know about this - I’ve just booked a day return to London from Norwich and reserved my place through EventBrite. Will be good to see your new offices and any familiar faces.


Looking forward to hearing this :slight_smile:
Will be sure to check out the stream once published

So…I didn’t attend the event; however, I really want to know how Monzo makes money!

Can someone provide a summary please?

Stay tuned @TimBanting – I’ll be posting a summary later today!


So, my take out from watching the video.

Firstly - I hugely appreciate Monzo not only doing these in the first place, but also live streaming (and uploading to YT) for later viewing - Microphone technical issues aside, I thought it was really useful.

@yen - When you post your summary later, will you be able to divulge what the £3.50 of “other” (making up almost 25% of Monzo’s revenue) is?

Disappointed, but not completely surprised that almost half of the revenue comes from overdraft/loan fees.

I was expecting an additional revenue stream which would take the emphasis off lending (marketplace for example).

A question was asked about the interest on pots product, which was answered with “I’m not sure I can give any information on that” - But obviously it’s already in the public space, all be it to a limited number of people.

Overall, a nice round up of where Monzo is.

I would really like Monzo to double-down on market place. make some margin from the 1m customers on things like mobile phone insurance, breakdown cover etc.

I revisited my Starling account today- their marketplace is coming together and split into nice categories:

  • Loyalty and receipts
  • Savings and Investments
  • Insurance
  • Mortgage Brokers
  • Charity
  • Bill Management
  • Credit Scores

Only 9 partners in some of those categories; however, I like their approach.

Hi @nickh – we’ve put it to our Finance team, and will let you know what they say!


It looks like you’ve gotten an answer from Julie on our Q4 goals thread, but will cross-post here for visibility!


Here’s our official roundup of the evening!

Forum (and Open Office) regular @icedcoffee captured a great photo of the action:

You can see the rest of the Twitter activity from the night here!


The wonderful @joey100 and Caroline gave a talk about how the Finance team makes money work for Monzo. They covered the slightly unusual structure of the Monzo Finance team, discussed their team’s and Monzo’s quarterly goals, explained what we call Customer Unit Economics and why it’s important, and how that feeds into the question of profitability.

The full stream:

Some highlights:

3:40 – an introduction to the Finance team at Monzo, and what makes it a little bit different

4:43 – what the Finance team does for Monzo, and the Finance team’s Q4 goals

7:07 – Julie explains a key term: Customer Unit Economics

11:07 – why we talk about Customer Unit Economics, and why it’s important

12:01 – Caroline talks through the company’s Q4 goals

13:47 – what overall company profitability is, why it’s important, and Monzo’s plans for getting there

17:35 – Q&A: an audience member asks about the Monzo marketplace and where it’s at

18:50 – Q&A: an audience member asks about how Monzo intends to differentiate from competitors, and Julie talks about why it’s wrong to assume that Monzo’s principal competitors are other challenger banks


Thanks for hosting another really informative evening!


Great summary :slight_smile: thanks!

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