Digital bank Monzo said today it plans to grow its Irish team to 70, almost doubling its headcount here by the middle of 2027.
Monzon said its expansion plan builds on its continued investment in Ireland with the latest capital injection of €71m, bringing the total to €83.5m over the past two years.
It said the investment underpins the expansion of its Dublin-based European headquarters and the creation of new jobs across the business.
The new roles will span operations, risk and compliance, technology and engineering, financial crime prevention and product development.
Monzo became the first digital bank to secure a full European banking licence through the Central Bank last December, which enabled the company to bring its fully regulated personal and business banking products to customers across the EU, starting in Ireland.
Supported by IDA Ireland, the digital bank said its expansion will support the delivery of its core digital banking offer for individuals and businesses, including everyday current accounts, children's accounts payments, savings products and financial management tools.
"We’re excited to see our founding Dublin team grow, welcoming experts who bring together the best of banking and technology. Ireland’s deep and expanding talent pool offers the world-class expertise needed to support Monzo’s expansion ambitions across Europe," Michael Carney, EU CEO at Monzo, said.
"As we take our mission to make money work for everyone in Europe, we’re proud to kick-start that journey in Ireland, with individuals and small businesses now able to join the waitlist," he added.
Michael Lohan, CEO of IDA Ireland, said that Monzo is the first digital bank to secure a full European banking licence through the Central Bank of Ireland.
"This decision is a strong vote of confidence in Ireland as a location for International regulated financial services where companies can deliver products and services across the EU from Ireland. It also speaks to Ireland’s strong capabilities in international banking and digital technology," he added.
Tánaiste and Minister for Finance Simon Harris said that Monzo’s decision to expand its team and establish its European headquarters in Dublin is testament to the country's reputation as a hub for innovation and financial services.
"This significant investment not only brings new jobs and opportunities but also strengthens Ireland’s position within the European banking sector. I look forward to seeing Monzo contribute to our vibrant economy and deliver innovative banking solutions," Mr Harris added.
