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UK challenger bank Monzo nabs another $190M as US expansion beckons
Monzo has raised another $190 million, as the challenger bank looks to expand its presence internationally — particularly in the U.S.
This extension saw existing investors such as CapitalG throwing more cash into the pot, alongside new backer Hedosophia, which had previously backed Monzo rival, Wise. Its revenues doubled in the most recent financial year, and with a veritable war-chest at its disposal, the company is well-financed to try and emulate some of this success across the pond. “The huge interest we see from global investors is testament to the momentum and strength of our business model and the commitment of our teams, who put our customers at the heart of everything we do,” Monzo CEO, TS Anil, said in a statement issued to TechCrunch.
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