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, Koppel, 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.
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.