Mark Kleinman: Monzo deal needn’t be a hammer blow for UK tech
Mark Kleinman is Sky News’ City editor and the man who gets the Square Mile talking in his City AM column. Monzo deal needn’t be a hammer blow for UK tech Monzo, Oaknorth, Revolut, Starling Bank – the queue of British fintech champions waiting to float in London is fast-disappearing. The latest to more-or-less evaporate? Monzo, if a [...]
Mark Kleinman, Sky News’ City editor, discusses the potential Monzo takeover by Nu Holdings, which may value the British fintech company at £8bn to £10bn. While talks are still early, a deal could still occur and may be facilitated by Morgan Stanley and Qatayst. The acquisition would give Nubank, a Brazilian fintech, greater oversight of Monzo's UK operations, and might be seen positively by regulators.
An outright sale could solidify the notion that British scale-ups have a ceiling before attracting an overseas predator. However, if Monzo does not find a buyer, the company's board and shareholders are considering alternative funding options.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
