The digital bank secured £60m from new and existing backers, bringing its total funds raised this year to £125m.
"“From the beginning, Monzo has been creating a new kind of bank that’s giving people more oversight and control over their finances than ever before.“"
The company has closed a seed follow-on investment round to support its official launch in the United Kingdom.
"Despite being the founder of a successful business in Ukraine, when I first moved to London I was unable to access credit from high street banks. This is because I was considered “thin file” – I didn’t have a UK credit history the banks could base a decision on."
Northzone led the Series A round to support the company as it accelerates international expansion.
"Until now, the lack of viable and scalable technology has meant that facilities management is one of the last industries to be enhanced by digitization, despite covering the world’s largest asset class. Infogrid’s end-to-end smart building system finally arms organizations with insight to take control and take action. This new era of insight and automation will bring about a positive impact on the efficiencies of businesses, the wellbeing of employees, and the environmental footprint of buildings."
Northstar Ventures backed the Durham technology firm with capital from regional innovation funds.
"We are absolutely delighted that our Durham company can continue to grow at the global leading edge of technology innovation. The world is becoming more and more reliant upon artificial intelligence. AI is only as good as the data that is used to create it. Our products will make AI safer and easier to use."