Monzo is now valued at $ 5.9 billion after the U.K.-based challenger bank confirmed a secondary market share sale to provide liquidity for its employees. The transaction, first rumored yesterday, saw existing investors such as Singapore’s sovereign wealth fund (GIC) and StepStone Group procuring additional shares in the London-based fintech. A secondary market sale essentially […]
UK neobank Revolut valued at $45B after secondary market sale
Revolut has confirmed a new valuation of $ 45 billion via a secondary market share sale, shortly after the U.K.-based neobank secured its own banking license in the U.K. and in Mexico. The news positions Revolut as one of Europe’s most valuable private tech companies. Founded out of London in 2015, Revolut is one of […]
African neobank Kuda raised $20M at flat valuation last year, missed user milestone projection by 3M
Earlier this month, Kuda co-founder and CEO Babs Ogundeyi told users that the Nigerian online challenger bank had reached almost N₦56 trillion (~$ 60 billion) in transaction value since its 2019 launch. Ogundeyi also said that Kuda had achieved a notable milestone, with 7 million retail and business customers as of today. However, the figure […]