What is Monese?
Founded in 2015 and headquartered in London, United Kingdom, Monese operates as a provider of electronic payment transfer services. Through its mobile application, the company offers accessible financial solutions in 31 countries across the European Economic Area. Monese aims to simplify banking for a globalized world, providing a digital-first approach to financial management and international money transfers. The company's focus on user experience and cross-border capabilities positions it as a key player in the challenger bank sector.
How much funding has Monese raised?
Monese has raised a total of $196.8M across 5 funding rounds:
Angel/Seed
$1.8M
Series A
$10M
Series B
$60M
Series C
$90M
Private Equity
$35M
Angel/Seed (2015): $1.8M with participation from Seedcamp
Series A (2017): $10M led by Seedcamp, Korea Investment Partners, and SmartCap
Series B (2018): $60M supported by Augmentum Fintech, International Airlines Group, Investec INVC Fund, PayPal, and Kinnevik
Series C (2021): $90M featuring Investec Group
Private Equity (2022): $35M backed by HSBC
Key Investors in Monese
Augmentum Fintech
Augmentum Fintech is a publicly listed investment company focused on fast-growing fintech businesses in the UK and Europe, providing patient capital and support to disruptors in the financial services sector.
Kinnevik
Kinnevik is an investment company with an entrepreneurial spirit, focused on building and leading fast-growing digital consumer businesses in partnership with talented founders.
HSBC
HSBC is a global banking and financial services organization headquartered in London, with a significant presence across six continents, offering a comprehensive range of banking products and services.
What's next for Monese?
The recent major strategic investment in Monese signals a strong confidence from its backers in the company's future trajectory. This capital infusion is expected to fuel Monese's expansion efforts, potentially involving the enhancement of its product offerings, further penetration into existing markets, and exploration of new geographical territories. Strategic partnerships and technological advancements are likely to be key priorities as Monese seeks to solidify its competitive advantage and scale its operations in the dynamic fintech industry.
See full Monese company page
