Monzo valued at $5bn after fresh funding round

5th Mar 2024 14:38

(Sharecast News) - Online challenger bank Monzo has secured a new $430m (£339m) funding round led by the Alphabet-owned CapitalG which values it at $5bn (£3.9bn).

Other backers in the new funding round include Chinese venture capital firm HongShan and existing investors Tencent and Passion Capital.

Monzo said in a statement it would use the funds to expand and introduce new products.

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