London-based neobank Monzo could become the UK’s latest fintech unicorn, after lining up an investment round of$150 million. With investors set to include the Silicon Valley VC firm Accel Partners, the round could see Monzo valued at $1.5 billion — marking a four-fold increase over its $336 million valuation in November 2017.
Monzo is one of a number European neobanks to have gained a full banking license -but it’s struggled to get users to choose it for their primary account. Others with a full license include UK competitors Starling and Atom, Germany’s N26, and Sweden-based Klarna.
Source : www.businessinsider.com