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.
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Monzo Rejected Crypto Trading Because It Conflicted With the Bank's Mission
“Let's talk about cryptocurrency trading. That's a good one, where we chose to not do it, right? Because letting the average customer Buy a hundred cryptocurrencies because we could make a buck off of it. Just felt not on mission at all.”
Monzo Is Expanding to the US Using a Partner Bank Model
“Because we're not looking to go in with a banking license. The U.S. FinTech industry has this well-established model of a partner bank, a sponsor bank, and most of the U.S. FinTech industry operates with that model. So we, that's what we're doing. So working, …”
Monzo Selects Ireland as Its European Expansion Beachhead
“Ireland is our beachhead into Europe, right? That's the regulatory region we want to work with, and that's where we want to domicile out of.”
Monzo Was Running Out of Capital When TS Anil Became CEO
“We were running out of capital, and there was COVID on our revenues that had fallen off of a cliff. Monetization was lagging the user growth.”
TS Anil Holds No UK Bank Account Other Than Monzo
“I don't have another bank account in this country, by the way.”
Monzo Raised a £250M Down Round Weeks After TS Anil Became CEO
“We raised two hundred fifty million pounds. I mean, we did the down round within minutes after I started, like three weeks after I started, and then we topped up that down round over the next six months.”
A Pivotal Investor Pulled Out of Monzo's 2020 Fundraise Right Before Closing
“You know, an investor that I would have spent months working on in 2020, and they're that close, and I know that it's gonna be pivotal for us, and it changes our story, because on the back of that, I will be able to raise more capital, and they don't pull the …”