The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 26 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Stebbings: Revolut Out-Shipped Monzo On New Product Releases
“Revolut out-shipped the shit out of Monzo on new products.”
Blomfield: Monzo received 96 consecutive investor rejections for a 2020 flat round
“And I had 96 no's in a row for that fundraise to try and do a flat round.”
Blomfield: European neobanks N26, Revolut, and Monzo failed initial US expansion
“N-twenty-six has failed, Revolut's failed, Monzo's, the first go's failed”
Revolut grew fastest in Ireland, Romania, and Poland, not the UK
“So if you think about Revolut against Monzo, right, like the markets we grew the fastest wasn't the UK. It was Ireland, it was Romania, Poland.”
Blomfield: Monzo survived COVID by raising $100M in a 40% down round
“It was a sort of 40% down round. I think about 1.3 billion And we got a hundred million, and the company survived.”
Monzo acquired 99% of its 1.2 million users through viral mechanics
“And here we are, 1.2 million customers, 99% through viral mechanics.”
Blomfield: Monzo will launch a third-party marketplace financial control center
“I'm really, really excited about building out this marketplace of products from third parties on the Monzo platform to be a real control center, to let our customers manage all of their money wherever it sits within a single place.”
TS Anil: Monzo Has Surpassed 10 Million Customers
“We have north of ten million customers now, Harry, right?”
Monzo Achieves £145 Retail ARPU and £150 Small Business ARPU
“It's about a 145 pounds. On the retail side. And 505 150 on the small business side.”
Monzo Adds Over 200,000 Monthly Users Primarily Through Word of Mouth
“We add over 200,000 new users a month. The vast majority of those are word of mouth.”
Monzo's Investment Waitlist Hit 150,000 After a Single Press Interview
“When we launched our investments product, I literally did one press interview, and by that evening, we had a 150,000 customers add themselves to the waiting list for the Monzo investments product.”
Monzo Aims to Unite All Consumer Finance Products in One App
“We intend to meet all of these needs of a customer, right? Budget, borrow, spend, save, insure, invest, all of that In a single place, right? That's what we're building.”
Monzo Will Eventually Offer All Major Asset Classes With Educational Tools
“So the goal was, you know, of course we will offer all sorts of asset classes in time, but really build it around helping customers understand what they're doing,”
TS Anil: Monzo Is Now the Largest Digital Bank in the UK
“Here we are, right, the largest UK digital bank and, you know, so much more.”
Blomfield: Monzo revenue grew nearly 10x from $100M at departure
“I left at a hundred million revenue or so, and it's now almost 10 X that.”
Blomfield: Monzo burned $100 million annually in early 2020
“We were burning a hundred million a year at the time.”
Blomfield: Monzo acquired its first million customers with zero advertising spend
“But we got to a million customers with no advertising.”
Blomfield: Roughly 60% of Monzo customers deposit their salary into Monzo
“So then we spent the two years getting everyone to put their salary in, and now it's something like 60% of customers put their salary in.”
Blomfield: Monzo doubled growth rate over recent months via product optimization
“So our growth rate in the last three or four months has doubled based on product growth alone, which is free zero cap.”
Over 600,000 Monzo Customers Have Enabled the App's Gambling Block Feature
“The staggering numbers, Harry, more than 600,000 customers have turned that on.”
Monzo's Revenue Is Split Evenly Across Transactions, Lending, and Subscriptions
“The third is transaction based revenues, interchange FX and so on. The third is on balance sheet lending. When customers take out an unsecured borrowing product from us, loan or an overdraft or Monzo flex. And then the last one third is what I describe as good…”
Hudack: Monzo's website didn't mention the word bank initially
“When I first started working there we didn't actually say the word bank anywhere on the website.”
Eileen Burbidge Worked as Monzo's Interim CPO for Six Months
“When we lost a chief product officer, sorry, chief people officer, she came and did an exec job at Monzo effectively for like four days a week for six months.”
Grimshaw: Monzo Has Reached 7 Million Accounts in the UK
“Monzo now has seven million accounts. It's like a 10th of the British population has signed up to this thing.”