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Monzo Raises Additional $190 Million
Today, the UK’s largest bank, Monzo announces it has raised an additional $190m (£150m), adding to its $430m (£340m) funding round in March, earlier this year. Bringing the total raised in this round to $610m (~£500m).
The additional $190m (£150m) was raised from new and existing investors, Capital G, Alphabet’s independent growth fund, invested again, alongside Hedosophia, this now values the company at an increased post-money valuation of $5.2bn (£4.1bn).
TS Anil, CEO of Monzo: “The huge interest we see from global investors is testament to the momentum and strength of our business model and the commitment of our teams, who put our customers at the heart of everything we do. With even more rocketfuel for our ambitions and exciting products in the pipeline, there’s no doubt in my mind that the best of Monzo is yet to come.”
The new capital will be used to accelerate Monzo’s expansion plans following a year of record growth that saw the company move into profitability, attract millions more customers, and launch a range of new products.
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Uptiq Raises $25 Million Series B to Scale Industry-Ready AI Solutions and Launch Qore for Builders
Uptiq, the AI platform purpose-built for financial services, today announced it has raised $25 million in Series B funding from a group of leading strategic and financial investors across banking, fintech, and enterprise software. The round was led by Curql, with participation from Silverton Partners, 645 Ventures, Broadridge, Green Visor Capital, Live Oak Ventures, First Capital, Epic Ventures, Tau Ventures, and Evolution VC.
Bracket Secures $7m to Scale Treasury Intelligence Platform
Bracket, a leading FX, treasury and cash management platform for mid-market businesses, has raised $7 million in Seed funding. The round was led by Macquarie Group’s Commodities and Global Markets business and Blackfinch Ventures, with participation from existing investor Failup Ventures.
Tembo Raises £16m to Help More First-Time Buyers Get Onto the Property Ladder
Tembo, the award-winning digital savings and mortgage platform, has raised £16 million in growth investment to help tackle the homeownership affordability crisis
Momenta Finance Launches Major Uplift To Its Lending Capability With £125m Facility
Momenta Finance, a leading UK alternative lender, has today announced a significant evolution of its lending capabilities after closing a £125m forward flow facility from a leading global investment bank to enhance its exceptional institutional roster of funding partners.
Africa Must Rewire US$29.5 Trillion Mineral Endowment Around Industry, Infrastructure and Demand, Africa Finance Corporation Study Says
Africa hosts an estimated US$29.5 trillion in mine-site mineral value, representing about 20% of global mineral wealth, yet captures only a fraction of the economic value embedded in this endowment, according to a new study (http://apo-opa.co/4txjr5p) released today by Africa Finance Corporation (AFC) (www.AfricaFC.org).
Tech Credit Fund Deploys R5 Million to AdNotes, Powering the Growth of Black-Owned ISPs and Digital Inclusion
Solcon Capital’s Tech Credit Fund (“TCF”) has successfully concluded a R5 million structured private credit funding transaction with AdNotes, a multiple award-winning, Black-owned South African Internet Service Provider (ISP), supporting the expansion of affordable and reliable internet access to underserved communities across the country. This transaction marks the first deployment of capital by the Tech Credit Fund and establishes a proof-of-concept for funding scalable, community-focused ISPs across South Africa.
European Union (EU) Launches Invest4Libya to Strengthen Public Finance and Drive Digital and Green Investment in Libya
The Ministry of Finance, the Delegation of the European Union to Libya, the Embassy of France in Libya, and Expertise France (www.ExpertiseFrance.fr) officially inaugurated the Invest4Libya project today. An initiative designed to strengthen Libya’s financial governance, improve its investment climate, and boost the performance and inclusiveness of the country’s MSME and entrepreneurship ecosystem.
ING: Governing AI Before It Governs You
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ComplyAdvantage: Why Compliance Must Catch Up With Reality
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Admiral Group Acquires Flock to Drive Innovation in Commercial Motor Market
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