Fast-growing digital bank Monzo has completed a £133m funding round, valuing the UK lender at over £2 billion, the company said today.
The capital injection, led by Silicon Valley venture fund Y Combinator, cements Monzo's status as one of Europe's most valuable start-up finance firms.
Monzo, founded in 2015, has amassed more than two million customers in Britain by offering user-friendly online current accounts and mobile money management tools.
The lender - which made a loss of £33.1m - launched in the US earlier this month.
It is also pushing into new service areas in Britain in a bid to turn profitable, including offering premium accounts, utility switching and savings accounts in partnership with traditional lenders.
Other investors taking part in the fundraising round included Latitude, General Catalyst, Stripe, Passion Capital, Thrive, Goodwater, Accel and Orange Digital Ventures.
