The head of Monzo has said the digital bank will look to raise money from institutional investors that can “deploy hundreds of millions of pounds” when it seeks its next round of equity funding.
In the past year, the challenger bank has twice drawn on venture capital firms for cash. It clinched £85m in October 2018 in a fundraising led by General Catalyst and Accel, the growth investors, and £113m in June 2019 from a group led by Y Combinator, the San Francisco-based investment fund.
