Monzo: A new kind of banking reaches £20m investment

A new kind of bank has reached its target raise of £20 million investment in just over two days.

Monzo is a bank that lives on your smartphone and has been built for the way you live today.  The fastest growing UK bank with 15% of all new UK accounts opened are for Monzo current accounts.

Since starting, the bank has worked with an aim of building ‘the best current account in the world’ and now has more than one million customers using its debit cards to manage their money and spend around the world.

Photo: Monzo

Some 36,006 people have now invested into the banking app, all in just two days, two hours and 45 minutes.

A spokesperson for Monzo said: “We’re happy that so many people have been able to get involved and take a stake in the bank that they’re helping us build.

“Our community has played an essential part in making Monzo what it is today, and their support and feedback are becoming even more crucial as we grow.

“So thank you to our customers, our loyal investors and our new ones – we’re blown away by their support and so excited about what we’ll do together.”

To find out more about Monzo, click or tap here.