Monzo: CEO of challenger bank fintech cautious about SoftBank-style fundraising - Business Insider

Monzo, the fast-growing $2.5 billion UK challenger bank, has raised $413 million and is thought to be raising more.

"I worry that taking money from someone like SoftBank does commit you to a certain course of action," Monzo CEO and cofounder Tom Blomfield told Business Insider in an interview. SoftBank's $100 billion Vision Fund may have redefined technology investing, but some founders are circumspect about the benefits of near-infinite capital.

Monzo won't comment on the rumors, but CEO Tom Blomfield is circumspect about taking SoftBank's money when asked in an interview. He points to Uber, which used its SoftBank arsenal to expand rapidly. Blomfield added: "I think the Uber approach has been really, really interesting because it has influenced a generation of entrepreneurs who see Uber basically using at the time what was infinite, practically free capital as a weapon."Blomfield says Monzo wants to pursue sustainable growth

Asked about the key to fundraising over the long term, Blomfield said the key was to "build relationships with investors early and share your operating plans and then go and hit those plans."

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Salesforce co-CEO Keith Block steps down, Marc Benioff is CEO - Business InsiderA big CEO shakeup at Salesforce as one of its co-CEOs — who only took the job in 2018 — steps down, after being with the company since 2013.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

SoftBank-backed software startup Improbable has a new chief financial officer - Business InsiderThe buzzy SoftBank-backed startup had lost three key executives in 2019, including its former CFO.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Business Insider credit card reviews: Updated for 2020 - Business InsiderAll of Business Insider's credit card reviews in one place. Read reviews of cards like the Chase Sapphire Preferred, the Delta Amex cards and more. He he he... Where is cryptocom Visa card? Up to 5% back on all card spendings + free Spotify + free Netflix + free Airport lounge + free App + $50 welcome bonus (if you stake 50MCO) Check if your email is entitled for welcome bonus
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Departing Salesforce CEO Keith also made a sudden exit at Oracle - Business InsiderKeith Block is known as a 'strong operator' who led Salesforce against his old company, Oracle, where he also made a sudden and unexpected exit.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »