The challenger bank’s Vanderbilt University-backed series G has been boosted by new funding at the same $1.57bn valuation.
Monzo, a UK-based digital bank, secured £60m yesterday to increase a series G round featuring Vanderbilt University to £125m ($167m).
The new funding came from conference operator Ted Global, Novator, Kaiser and Goodwater Capital, according to TechCrunch. Monzo confirmed it as an extension to its existing series G funding.
Payment services provider Stripe, telecoms firm Orange, Y Combinator, General Catalyst, Accel, Goodwater Capital, Thrive Capital, Passion Capital and Reference Capital and provided the first £60m in June this year, and the company had since quietly raised another £5m.
Monzo runs a digital bank with more than 4.8 million customers, offering current accounts as well as business accounts, which are used by some 60,000 of its customers. It has now raised in excess of $550m since it was founded in 2015.
The series G funding was secured at a $1.57bn valuation, a notable downturn to the…
