Orange and Stripe returned for a $75.9m round that cut the mobile bank's valuation from more than $2.5bn to under $1.6bn.
UK-based digital bank Monzo has completed a £60m ($75.9m) funding round that included telecommunications firm Orange and digital payment processor Stripe, TechCrunch reported on Tuesday.
Y Combinator, General Catalyst, Accel, Goodwater Capital, Thrive Capital, Passion Capital, Reference Capital and Vanderbilt University also participated in the round. It valued the company at approximately $1.57bn, down roughly 40% from its previous round.
Monzo offers personal and business bank accounts accessible through its mobile app. Customers can access savings accounts, overdrafts and loans,…
