Shutdown
Mar 2026Monzo said it would exit the US market, stop onboarding new US customers, and close existing US accounts, with about 50 roles reported at risk.
SourceCompany research
Public company, workplace, funding, and market signals
Updated Jul 29, 2026
Overview
Monzo is a UK digital-first challenger bank focused on making money management simpler for consumers and businesses through a mobile app, current accounts, budgeting tools, savings, lending, investments, pensions, and insurance.
Primary product
Mobile banking app and digital current account
Founded
2015
Headquarters
Broadwalk House, 5 Appold Street, London EC2A 2AG, United Kingdom
Team size
5,000+
Work style
Flexible
Industry
Financial Services
Sub-industry
Digital bank / challenger bank / neobank
Offices
London
Cardiff
Dublin
Barcelona
Business model
Funding
Stage
late-stage private
Total raised
$1.5B
Latest round
Series I extension · May 2024
Latest amount
$190M
May 2024
Mar 2024 · CapitalG
People & investors
Leadership
Group Chief Executive Officer
Michael Carney
Europe Chief Executive Officer
Iain Laing
Group Chief Risk Officer
Sarah Manning
Group Chief People Officer
Mark Newbery
MBL CFO
Group Chief Financial Officer
Work & culture
Open, collaborative, inclusive, and transparent; Monzo emphasizes customer-centric product development, community feedback, open-source contribution, and flexible working.
Work style
Flexible
Visa sponsorship
Limited
Compensation
Monzo says it reviews salary annually and offers performance-linked incentive awards that can be taken as cash, equity, or a mix; senior roles receive a minimum equity component.
Benefits
annual salary reviews
performance-linked incentive awards with cash/equity mix
equity participation for senior roles
flexible working hours
Product & market
Pricing
Freemium bank accounts with paid subscription tiers (Extra, Perks, Max, and related premium offerings) plus revenue from interchange, interest, and fees.
Differentiators
- —mobile-first digital banking
- —24/7 in-app human support
- —transparent tone of voice and community-led product development
- —budgeting Pots and instant notifications
- —broad product suite from current accounts to lending, investing, pensions, and insurance
- —strong fraud and security features
- —flexible work culture and distributed workforce
- —AI/ML-driven platform and rapid product iteration
Technology
Go
Python
Scale & contact
Estimated revenue
£1.5bn-£2.0bn
Estimated monthly visits
8.2M
Traffic estimate as of Jun 2026
Signals & risks
Latest news
Reuters · Mar 2026
Monzo said it is exiting the US, stopping new customer sign-ups there, and refocusing on the UK and Europe after securing a European banking licence; Reuters also reported roughly 50 jobs at risk.
Tech.eu · Dec 2025
Monzo received a European banking licence from the ECB and Central Bank of Ireland, enabling EU expansion and making Dublin its European headquarters.
Reuters · Oct 2025
TS Anil was set to step down as CEO and Diana Layfield was named successor, with reporting pointing to board disagreement over IPO timing and venue.
Reuters · Jul 2025
Reuters reported the FCA fined Monzo £21.1m for inadequate anti-financial crime systems and controls between 2018 and 2020.