Monzo Bank

Monzo Bank, established in 2015 in London, England, operates within the fintech industry, specifically focusing on consumer finance. It has grown rapidly to serve over 7 million customers, with 13% of UK adults using its services. Monzo offers a range of features through its mobile banking app, such as real-time transaction notifications, no foreign exchange conversion fees, and access to over 40,000 fee-free ATMs nationwide. The bank’s innovative offerings include the Monzo Mastercard Debit Card issued by Sutton Bank, salary sorter features, and the ability to set up Pots for specific savings goals. Additionally, Monzo provides a platform for managing all bank accounts in one app and supports features like rounding up transactions for savings and providing real-time balance updates. Monzo’s workforce includes approximately 2,450 staff members, with about 400 in the product/tech team. The company is backed by notable investors such as YC, Stripe, Tencent, and Mike Moritz. It was voted the #1 startup where people in the UK want to work in 2022 and maintains a strong community engagement and contribution to open source software. Monzo’s mission is to make money work for everyone, and it boasts a Net Promoter Score of over 70.