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UK neobank Monzo hits $5.9B valuation with secondary market sale
Monzo is now valued at $5.9 billion, after the challenger bank announced a secondary market share sale to provide its employees liquidity.
Monzo is now valued at $5.9 billion after the U.K.-based challenger bank announced a secondary market share sale to provide liquidity for its employees. The transaction saw existing investors such as Singapore’s sovereign wealth fund (GIC) and StepStone Group procuring additional shares in the London-based fintech. This growth, coupled with a roadmap that includes a wider European expansion and plans to accelerate its rollout in the U.S market where it appointed a new CEO last October, has clearly been deemed sufficient for a valuation bump in the past five months.
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