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Monzo, the UK challenger bank with 9 million customers, raises $430 million

London-based fintech company Monzo raised a late stage funding round of $430 million at a $5 billion valuation.

Founded in 2015, Monzo provides UK current accounts, debit cards and several financial products with a digital-first approach. Today’s investment is an important tidbit of information as massive funding rounds have become a rarity over the past year or so — unless you’re working on an AI foundation model. That’s why Monzo is sort of defying the odds with this new funding round, with Google playing a big part in this investment.

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