Neo-bank Monzo secured $113 million in Series F funding from a series of existing and new investors including Y Combinator Continuity to jump to a valuation of $2.6 billion in June. The challenger bank, founded in 2015,
, and has since added more than a million customers. Monzo claimed it had around 3.5 million customers and over 1,500 staff. also reported on the fundraising, citing people familiar with the matter who said that Monzo had been in talks with investors about an extension to its $113 million round ahead of a bumper "Series G" funding in 2020.
Y Combinator Continuity backs the subsequent funding rounds of alumni companies of the seed accelerator Y Combinator. Other investors in the Monzo round included General Catalyst, Stripe, Passion Capital, Thrive, Goodwater, Accel and Orange Digital Ventures. Monzo has now secured a total of $414.5 million in funding.
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