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Monzo to launch £20m crowdfunding round

Martin Greenland | 14:16 Tuesday 27th November 2018

Monzo has announced plans to crowdfund up to £20m to support its continued growth.

The digital bank will offer existing customers the opportunity to invest up to £2,000 through the Monzo app.

In its last two crowdfunding rounds, 7,395 people invested their money into Monzo.

Customers who are interested in investing with money currently in their Monzo savings pot are advised to transfer the funds into their account 24 hours before they invest.

In October, Monzo raised a further £85m in equity capital in an investment round led by General Catalyst and Accel.

Pictured above: Tom Blomfield, co-founder and CEO at Monzo.

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