'We build them and sell them': Monzo's sale talks reignite fears over Britain's tech exit problem
UK digital bank Monzo is reportedly exploring three potential paths: an acquisition by Brazil's Nubank, a major new funding round, or a sale of a large stake to private equity firms. Sources close to the talks suggest an acquisition valuation could range from £8bn to £10bn. Nubank holds a market capitalisation of approximately $65.5bn.
Monzo's recent engagement of Morgan Stanley and Qatalyst as advisors suggests serious deliberation is underway. The UK-based fintech, which began operations in Ireland in April, is also considering a €83.5m investment in its Irish operations to double its workforce there to 70 by mid-2027. Despite announcing the closure of its US operations in March, Monzo continues to focus on growth within Europe.
Monzo boasts over 15 million customers, with 10.4 million active users, making it the primary bank for nearly half of its users. CEO Michael Carney recently stepped down to launch a new AI accessibility start-up.
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- Brazil’s Nubank in talks to acquire UK’s Monzo – reports siliconrepublic.com
