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. British challenger bank Monzo is looking to close a $150 million funding round by the end of the year, pushing it into the unicorn league with a $1.5 billion valuation, according to the Financial Times. 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. In an interview last week, Mr McClure said that he was “very bullish” on Monzo, which had raised $200m in venture capital from investors including Andreessen Horowitz, SV Angel, Index Ventures
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. In an interview last week, Mr McClure said that he was “very bullish” on Monzo, which had raised $200m in venture capital from investors including Andreessen Horowitz, SV Angel, Index Ventures