As was rumored last month Monzo has confirmed it has closed a new £60 million round of funding at a...
Leading UK digital bank Monzo released its annual report yesterday and the numbers were not pretty; the company reported that...
Digital bank Aion has launched in Belgium and it is taking a different approach to most; it does away with...
Paytm Payments Bank is aiming to have 500 million accounts offering a wide range of financial services products; the bank launched officially on Tuesday; they are unveiling their money market fund, launching a debit card and will have the capabilities for businesses to open up accounts. Source
The neobank space has really heated up the last couple of years. The leaders are getting great traction with millions...
UK based Digital Bank Monzo is planning a crowdfunding round to give customers a greater share of ownership; the round will look to raise between $13mn and $40mn; while they will use the round for hiring it is meant to provide customers “a genuine sense of ownership”; the crowdfunding round follows the recent $94mn private equity backed fundraising. Source.
Though Monzo has seen a share of issues and outages recently the company says the third party marketplace is core to their vision; they also explained it was a key part of their revenue drive and will help to drive down costs per customers in the near future; Monzo have plans to expand product offerings, potentially launch in the US and build out partnerships in the near and mid term future. Source.
I was reading the Financial Times over the weekend and I came across this article citing a banking analyst’s perspective...
The way the basic checking account is constructed has not changed in decades. Your money is kept on a bank’s...
The digital banking space in Europe continues to suffer in the crisis with AltFi reporting that Revolut is looking to...