London and Tallinn - based challenger bank , Monese , has secured $ 60 m in series B financing . Existing investors including Investec 's challenger Fund were by joined by Kinnevik , along with PayPal , Augmentum Fintech , and Avios Group Ltd , International Airlines plc ’s loyalty and data business . challenger offers a mobile - only current credit and debit card that can be opened in just two minutes . The target markets are customers with " thin " credit and those newly - arrived in a country . The bank , which launched in 2015 , has nearly 600,000 sign - ups in the UK and Europe .
London and Tallinn-based challenger bank, Monese, has secured $60m in series B funding. Existing investors including Investec's INVC Fund were by joined by Kinnevik, along with PayPal, Augmentum Fintech, and Avios Group Ltd, International Airlines Group’s loyalty and data business. Monese offers a mobile-only current account and debit card that can be opened in just two minutes. The target markets are customers with "thin" credit and those newly-arrived in a country. The bank, which launched in 2015, claims nearly 600,000 sign-ups in the UK and Europe.