Monzo

“Monzo is an online bank in the UK, and for our first half a million customers or so, we were losing money on every customer, 30 or 40 pounds per customer. We scaled to more than half a million of those customers. It costs a lot, but we had a plan to turn it ro…”

“So a weekly active user at my old company, Monzo, was someone who transacted, who made a financial transaction at least once a week.”

“We got to a million customers at Monzo before we spent any money on direct marketing or advertising.”

“In the early days of Monzo, we were at -30 or -40 pounds per customer per year, and we scaled to half a million customers before we fixed them.”

“Back at Monzo, we found a particular money saving blog that was very, very cheap to get users from. They sent us hundreds and hundreds of users when we were eventually paying for advertising. It seemed very, very cheap, but the customers, it turns out, were de…”

“So for Monzo, we chose one transaction, at least one financial transaction every week.”

“Monzo, for example, hovered somewhere between positive 75 and positive 80 while I was there.”

“I was previously the founder of a consumer online bank called Monzo. It's now up to about eight million customers in the UK.”

“Because we had a bank account, but also this Venmo-like functionality built into the product where you could send and receive money, customers who added three friends from their phone book to their Monzo account so they could send and receive money, as they si…”

“And I think ultimately, the best companies bring meaning to the name often, rather than the other way around. Monzo doesn't mean anything.”