Taylor Wessing advised Monzo Bank Limited with a team including Angus Miln (Picture – Corporate M&A).
The Company has raised $475 million at first closing, with a second close anticipated to take place over the coming weeks, which will make this a $500 million+ financing round at a valuation of $4.5 billion.
This latest round, led by the Abu Dhabi Growth Fund, sees new investors including Coatue and Alpha Wave Ventures being added to the current roster of Accel, General Catalyst, Goodwater, Passion Capital, Octahedron and Thrive. Together they will be backing Monzo’s exciting next phase of growth.
The funding will provide the capital to supercharge growth, fuelling Monzo’s ambition to transform the banking industry and become the one global money app that allows consumers to control their entire financial lives.
The transaction was led by partner Angus Miln (Picture) with support from associate Harry Ruffell.
Law Firms: Taylor Wessing;
Clients: Monzo Bank Limited;