Monzo, the renowned UK-based digital bank, has secured $430 million in a round led by CapitalG, the venture arm of Alphabet, to support its relaunch in the U.S. market. The funding comes after Monzo reported significant growth in 2023, entering profitability for the first time and experiencing a surge in revenues. Monzo aims to leverage the investment to expand its product offerings, and marks a renewed effort to penetrate the American market subsequent to favorable regulatory changes.
British Neobank Monzo Raises $430 Million in Alphabet-led Round to Relaunch in the U.S.
