Dubai Investments acquired a 9 percent equity stake in Monument Bank to expand its digital banking operations
Dubai Investments has acquired a 9 percent stake in Monument Bank to support its international expansion and technology rollout.
Monument Bank is a UK digital bank that provides core banking and property investment lending services tailored to the mass affluent segment. Operating with a full banking licence, the institution combines traditional financial products with advanced in-app capabilities.
Dubai Investments has acquired a nine percent equity stake in Monument Bank to support the digital lender's ongoing expansion. The transaction follows a strong first year of operation for the UK bank, during which it accumulated significant deposits and lent nearly one hundred million pounds.
The fresh backing from the Dubai listed investment company will enable Monument to scale its operations domestically and internationally. Leadership plans to deploy the partnership to introduce new products for affluent clients and broaden the reach of its proprietary technology stack.
Alpen Capital acted as financial advisor on the transaction. The agreement marks a strategic entry for Dubai Investments into the regulated British digital banking sector.
From the founder
"Monument Bank is uniquely positioned as the only UK bank focused exclusively on the mass-affluent segment. We are already supporting thousands of customers with our deposit products and have lent nearly £100m in our first year of operation. With this investment and partnership with Dubai Investments, we will accelerate the scale-up of our UK business, launching innovative solutions to our target segment and growing our market share, whilst also leveraging our best-in-class technology with partners and clients around the world."
Ian Rand
CEO at Monument Bank
Investor perspective
"Investment in Monument Bank provides the Group a unique opportunity to foray into Digital Banking space in one of the most advanced and regulated markets at an early stage. The accelerated global shift to digital banking has been very positive for neobanks and the growth has been fueled by waves of customers who have embraced digital banking’s expanded product suite. With Monument Bank combining traditional and established banking products with innovative solutions, the Group is looking forward to be a part of the evolving and the continued growth phase of digital banks while expanding horizons and diversifying strategically."
Khalid Bin Kalban
Vice Chairman and CEO, Dubai Investments
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
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About the company
Monument Bank
Digital bank focused on the mass affluent segment in the UK.