Will Monzo eventually be bought by a legacy bank?

[alexs (Alex Sherwood)]

Tom’ just done an interview with TechCrunch & was asked about an acquisition offer from one of the legacy banks - which they turned down.

He does concede that an acquisition is possible but here’s why he doesn’t want to sell now -

@alexs

"We have the chance to do something really really different, we have the chance to build this smart bank that improves the lives of millions of people, around, not just the UK but around the world.
And we may not accomplish that but I know for sure, we definitely won’t accomplish that if we sell out to another bank. That’s the fate of simple.com or Fidor…we have similar aspirations [to Fidor’s original goals] & the way to ensure we will not meet those aspirations is to sell out.

@alexs

if stuff doesn’t go well, sure some like BBVA is sitting in the wings to acquire you. It means you haven’t accomplished what you set out to do."