Monzo, a new bank in the UK, has raised $190 million in funding with Hedosophia and CapitalG (Alphabet's independent growth fund) leading the way. This latest funding round brings Monzo's total funding for the year to $610 million, with a post-funding valuation of $5.2 billion. Monzo CEO and co-founder TS Anil stated that the plan is to use this cash to create new products and accelerate international expansion plans.

UK digital bank Monzo has raised $430 million in a new funding round led by CapitalG, the independent venture capital arm of Google's parent company Alphabet. Monzo stated that the new funds will be used to accelerate its expansion plans, including a renewed attempt to expand its services to the US. Monzo reported that revenue in 2023 increased by 88% to £214.5 million (approximately $272 million), up from £114 million in 2022. It is reported that Horizons Ventures, a Chinese venture capital firm that separated from Sequoia Capital last year, also supported this round of funding, along with existing supporters Tencent and Passion Capital.