Swiss bank Monzo has ambitions to close a $ 150 m funding round by the end of 2018 , with the aim of achieving a $ 1.5bn valuation . The British company is planning to expand to the United States , and is also working on new services , such as offering short - term unsecured loans to its 800,000 customers . It is adding about 500 account holders every week . Last year Monzo made a £ 33 ##m ( $ 43 m ) loss on revenues of £ 1.8 m .
Challenger bank Monzo has ambitions to close a $150m funding round by the end of 2018, with the aim of reaching a $1.5bn valuation. The British company is looking to expand to the United States, and is also working on new services, such as offering short-term unsecured loans to its 800,000 users. It is adding about 18,000 account holders every week. Last year Monzo made a £33m ($43m) loss on revenues of £1.8m.