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 . According to the FT, the new funding will be used to roll out new products such as short-term unsecured loans. 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 .
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 .