GoCardless co-founder Tom Blomfield and his full stack start-up bank should be able to offer a full current account in the first half of 2016, which is one of the new banks?
A few months ago we reported that U.K. banking startup Mondo — whose founders include GoCardless co-founder Tom Blomfield — had raised its first funding round, which our sources pegged to be in the “millions”. And just last month we called out London-based VC Passion Capital as the investor, which today Mondo is confirming. “Passion Capital have invested £2 million, and we’ll be looking to raise around £15-20 million before our full launch — this will be dictated by the Bank of England’s regulatory capital requirements,” Blomfield tells TechCrunch. The reference to the Bank of England’s regulatory requirements reflects Mondo’s ambitions to secure a full U.K. banking license.