The round was led by new investor CapitalG, the growth fund of Googles parent company Alphabet.
Monzo says that the fresh capital will accelerate its business growth, product development, and expansion plans.
It will also allow the London-basedfintechstartup to relaunch in the US, Monzos CEO TS Aniltoldthe Financial Times.
Founded in 2015, Monzos online-only banking services quickly gained popularity and the company reached unicorn status in 2018.
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But cementing leadership amid economic uncertainty, challenging market conditions, and increasing competition is no easy task.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
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