Monzo Tops 13 Million Customers on the Back of Record Growth, Word-of-Mouth Referrals and a Surge in Business Customers

Leading digital bank Monzo today announces that it has surpassed 13 million customers, as it progresses at pace with its ambition to build the one app customers turn to to manage their entire financial lives.

As Monzo marks its 10th anniversary, it now serves 12.5 million personal customers — that’s 1 in 5 UK adults — and more than 700,000 business customers or 1 in 8 UK businesses. The bank added c.1 million customers in the last quarter alone, demonstrating significant momentum behind the business.

It follows a standout performance from Monzo in FY2025 where revenues grew 48% to £1.2bn and adjusted profit before tax surged to £113.9m, up from £13.9m. Since then, Monzo has welcomed over 300,000 new customers every month, with May and June the biggest months on record for new sign-ups.

With a mission to make money work for everyone, Monzo is attracting customers of all ages and now has 650,000 customers with Under 16 accounts and more than 1,000 customers over the age of 90. Customer love continues to drive growth with two-thirds of new sign-ups coming from word-of-mouth recommendations including Monzo’s 13 millionth customer, a woman in her 50s, who signed up through a referral.

Monzo is fast becoming the bank of choice for small business owners, especially female founders. Today, 40% of Monzo Business customers are women – more than double the UK average, where only 15% of SMEs are female-led. This demonstrates Monzo’s unique appeal to female entrepreneurs looking to start, run and grow their businesses.

This latest milestone follows the launch of a series of innovative products and features over the past 3 months, many of which are industry-firsts. These include:

• ETFs – 11 carefully curated Exchange Traded Funds, designed for customers who want more choice in their investing while keeping it simple and accessible for first-time investors.

• Home Insurance – a combined buildings and contents policy that allows homeowners to personalise their cover and change or cancel their policy at any time with no extra fees.

• Undo Payments – another industry-first security feature, which gives customers a customisable 10-60-second window to cancel a bank transfer if a mistake is made.

TS Anil, CEO of Monzo, said: “Monzo has achieved a rare feat – we’ve built a bank that customers love. And that love continues to power huge growth, with two-thirds of new sign-ups coming from word-of-mouth recommendations. From helping under 16s learn about money to supporting customers in their 90s and beyond, we’re here for every stage of our customers’ financial journey, with so many more game-changing products and features to come. It’s incredibly exciting to see Monzo Business also growing rapidly as Monzo becomes the bank of choice for SMEs.”

Today, customers can budget, save, borrow, invest, track their mortgage, consolidate their pensions and insure their home all within the Monzo app – with much more to come.

With 13 million Monzo Customers and consistent monthly sign-ups, the digital bank is setting the pace for customer-first innovation in UK banking.