Monzo raised £13M from Thrive Capital, £5 M from Passion Capital, and £1.5M from Orange Digital Ventures, the venture arm of telco Orange
Monzo, one of a number of so-called “challenger” banks in the U.K. aiming to re-invent the current account, has disclosed a new funding round. Confirming most of the details from our report earlier this week, the startup has raised £19.5 million from U.S.-based Thrive Capital, London’s Passion Capital, and Orange Digital Ventures, the venture arm of telco Orange. They are investing £13 million, £5 million, and £1.5 million, respectively. The London-based company is also planning to raise an additional £2.5 million through another equity crowdfunding campaign on Crowdcube. The combined round pegs Monzo at a pre-money valuation of £65 million.