We’ve just published our Annual Report for the 2024 financial year 🎉

Hi everyone :wave: how we doing?

I’m here to share our latest Annual Report – an especially exciting one as we’ve recorded our first full year of profitability :rocket:

Have a read and as usual, I’m here to take any questions, thoughts or feedback from the community to the relevant teams here. Crowdcube will be sending an update out to crowd investors soon too.

Huge thanks as always for all your support, feedback and challenge along the way!


Big things in TS section, looks like Pensions and more mortgage stuff to come, and European expansion via Ireland is on the cards, an office in Ireland is already being set up


£15.4mil profit :call_me_hand:t3:

Then the depressing news of customers having an average of 38 friends using monzo… I don’t have this many friends :eyes::joy:


“Customers have an average of 38 friends that use Monzo” Jeezo, I have like 3 main pals and that’s plenty and only 1 of them uses monzo lol


Can’t wait for all the YouTube, Twitter, Reddit and Media messages saying “Monzo only Made £15 Million Profit, they’re going to fail!”

Few points:

In the coming year we’ll surpass 11m personal customers and increase the number of business customers we support by 25%. We’ll launch many more products and features, including pensions and an expansion of our mortgage feature, delivering even more tools to help personal and business customers make the best financial decisions for them.

EU/Irish Office Coming:

In Europe, Ireland will act as our gateway to European markets and we’re in the early stages of setting up an Irish office.


£11.2bn in Customer Deposits:

Customer deposits increased 88% to £11.2bn due to the success of our Instant Access product and the 2.3m new customers that joined us.


On my iPhone, as I was scrolling down, the text ended there. Almost spat my Yfood out.

I know that they said they’d be profitable this year, but £15? That’s it?

Then I kept scrolling and saw the million on the next line. Phew.


Reminded me of Jeremy Clarkson only making £114 profit his first year farming.


Congrats Monzo on becoming a sustainable bank, hopefully for years to come :slight_smile:

The holographic blue card making an appearance on page 13 is amusing considering it’s discontinued now pretty much?

Also I hope Hot Chip doesn’t mind being full of hot air! (or it’s a friend of them?).


If I keep banging on about it enough, they’ll resurrect it, right?

I love that card. Think they should have kept it as an option for perks alongside the new one. But I get the impression they want to split the colours up. Coral for personal, blue for business.


An account for kids is coming this year (page 14, “Cementing Monzo…” section). I guess the corresponding features of Starling and Revolut have been popular?


Congrats Monzo! A huge milestone :rocket: hopefully that’ll put most of the naysayers to bed.

Also, props to the web and design team for the awesome report page! It’s a delight and reminds me a lot of Apple’s product pages.


Brilliant to see things going so well!

One question; how do we get involved with future funding rounds? I’m an investor on Crowdcube and hadn’t realised funding was ongoing. Is there an opportunity for us to continue to invest?

Own a family office or be in a VC.


Please continue to be as transparent as you can, Monzo we don’t get all this from other banks, “oh, here’s how that’s run” at a high level, love it


I’m impressed. A few years ago, it was looking pretty shaky, but there’s no doubt TS Anil has saved the company.


I know it’s his name, but I couldn’t help but smirk at “TS Anil”


I received the investor email from Crowdcube with the investor-focused summary breakdown of the main Monzo report.

Most important bit: shares still at £14.41


Yey Monzo


I’d say no. The last few rounds - the ones you’ve seen - have been institutional funding rounds with no crowdfunding.

We’re close enough to IPO now that I don’t think it makes any sense for Monzo to do any further crowdfunding rounds, and I don’t think it would make any sense to invest if they did as the return would be low.