Monese Set to Become Next Unicorn

UK based digital bank Monese is in talks to raise more than $130mn which will bring the valuation to more than $1bn and make them a unicorn; the company intends to close the round in the first six months of 2020; Norris Koppel, Monese CEO, tells the FT, “it’s clear another investment round has to happen. What we are intending to do with our next raise is raise enough capital to take us all the way through to profitability.”; the digital bank saw their customer numbers double to 2 million last year with about 50 percent of customers depositing salaries into Monese accounts; 46 percent of UK customers pay for premium services including cheaper foreign currency transfers and no ATM withdrawal limits. Financial Times

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