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Case Code: BSTR574
Case Length: 14 Pages 
Period: 2015-2019   
Pub Date: 2019
Teaching Note: Available
Price: Rs.400
Organization : Monzo Bank Limited
Industry :-
Countries : United Kingdom
Themes: Digital Banking/Digital-only Bank Unicorn/App-based Banking/European Banking Industry/FinTech Start-up/Start-up Unicorn/Vertical-Industry Structure/Mobile-only Bank/Mobile Banking/Mobile App/Millennials/Traditional Banking
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Monzo Bank: A Digital, Mobile-only Bank in the UK

 
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INTRODUCTION

 
In October 2018, United Kingdom (UK)-based mobile banking player Monzo Bank Limited (Monzo) became a startup unicorn – a company valued at over US$ 1billion – after raising £85 million in Series E funding from General Catalyst and Accel . Launched in mid-2015, Monzo (then known as Mondo) had started with a funding of £4 million through an equity crowdfunding campaign. Also in mid-2015, the company launched its mobile application (App) and in late 2015, it launched prepaid cards (Alpha, Beta cards). These cards allowed users to add money through bank transfer or via an existing debit card...

 

 
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