Monzo secures £60m Series G funding to strengthen its capital position.

Monzo has secured £60m in a Series G funding round backed by a combination of existing and new investors. Participants in the raise include Y Combinator, General Catalyst, Accel, Stripe, Goodwater, Orange, Thrive, Passion Capital, Reference Capital, and Vanderbilt University.

The fresh capital strengthens the digital bank's total capital position to over £175m and supports its ongoing operations, including customer growth and product launches. The company also recently filed for a US banking licence and expanded its business banking offering.

Alongside the funding update, Monzo highlighted changes to its leadership team, including the appointment of Mike Hudack as Chief Product Officer and Sujata Bhatia as Chief Operations Officer.