Monzo secures £360m in Series H funding led by Abu Dhabi Growth Fund ADG
The Series H round was led by Abu Dhabi Growth Fund ADG to support rapid expansion and product development.
Monzo operates a digital banking platform that provides financial services and mobile banking tools. The business offers a centralised application designed to manage personal finances.
Digital bank Monzo has raised £360m in a Series H funding round led by the Abu Dhabi Growth Fund ADG. The capital will support the company as it accelerates its growth and expands its product offerings following a period of strong financial performance and revenue increases.
Chief executive officer TS Anil noted that the investment follows a successful year marked by record revenues, new product launches, and team expansion. The funding aims to drive further development and help the company consolidate its position in the personal finance sector.
From the founder
"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."
TS Anil
CEO at Monzo