The London startup secured the capital from backers including Founders Factory and Craig Burkinshaw to drive its marketing efforts.
"First and foremost we’re going to plough the money into marketing – to not just get Karmacist out there but explain the breakthroughs our Harvard and Stanford scientists have come up with."
The Seed round was led by TEN13 with backing from prominent angel investors.
"5-days a week in the office is dead. Employees now go into the office when they want to collaborate with colleagues, but will likely stay at home if they need to focus. And employers have been forced to adapt to this lasting shift. COVID-19 has caused a lasting and defined change in how and where people want to work."
Ten Coves Capital led the growth financing round to accelerate global market expansion and product development.
"This financing is a crucial next step as we continue to scale our operations and add to our global client base, which includes many of the world’s largest banks and asset management firms. With this latest investment, we look forward to deepening and expanding our solutions, and continuing to deliver the world-class service our clients expect,"
SoftBank Vision Fund 2 led the Series A round to support domestic expansion and team growth.
"We are delighted to partner with SoftBank as we scale in the UK and internationally. They’re a natural partner due to their ambition and their commitment to edtech in Europe and globally. Our mission is to provide all children wherever they are and whatever their background with an affordable, high-quality education. We are doing this by combining exceptional teacher-made content with industry defining technology. This investment will allow us to bring the very best people to the UK’s fastest growing edtech company."
The Series H round was led by Abu Dhabi Growth Fund ADG to support rapid expansion and product development.
"This round comes off the back of a fantastic year for Monzo. We’ve seen record revenues, launched new products and tools and continued to top the charts for our services. We’ve hired some incredible talent. This investment means we’ll grow further and faster as we continue on our journey to reinvent banking, and become the one app that sits at the centre of our customers’ financial lives."