Not saying that’s the main issue, sometimes you want to look good with the closing of a mega funding round.
Let’s just wait and see as I’m sure the change in year end will be picked up by the press as there always seems to be someone out there out who wants to write a negative article on Monzo but I’m sure Monzo will disclose the reason behind the change. Probably something basic like being in line with tax year end.
Looking forward to the year end report. I think we are sometime away from an exit, won’t be happening in 2024, even in 2025 I can see it happening towards the back end of the year, if it does happen.
Interesting. Lots of reasons to change a reporting year-end. Most of them very mundane!
That said, Starling’s year end is also 31 March. If we’re going to wildly speculate, maybe Monzo are acquiring Starling. Could explain the delay in the funding announcement (as the funding is all part of the deal), explains a change in year end (to align the two entities) and explains the rumours that Starling aren’t opening new accounts at the moment. Also would sort out succession planning for Anne as I think their current CEO is still an ‘interim’.
Strategically, both banks are targeting different parts of the market so could be seen as a complementary tie up.
I’d imagine it’s highly, highly unlikely, but I’m going to put it out there anyway!
You imagine correctly; but I do appreciate a bit of wild speculation now and again . It’s barely more outlandish than some of the other suggestions we’ve had for why Monzo might change its tax year to end in… the same month every one else’s does.
The valuation is all speculation at this point until confirmed by Monzo… but I’m not disappointed. There are few fintechs who have increased their valuation recently! Valuations have cratered
When I saw this headline & the relatively small ($50M) amount, I was briefly excited that they were going to use this round to provide some liquidity to existing shareholders. But looks like no such luck : (
. It’s barely more outlandish than some of the other suggestions we’ve had for why Monzo might change its tax year to end in… the same month every one else’s does.
