CapitalG led a £340m Series I round in Monzo.

CapitalG, the independent growth fund under Alphabet, led a £340m Series I round in Monzo, a digital bank, with participation from GV, HongShan and insiders like Passion Capital and Tencent. “We’ve built incredible momentum in the business over the past few years which has led to us reaching more than 9 million customers, turning profitable and launching even more ground-breaking products. With backing from global investors, we have the rocket fuel to go after our ambitions harder and faster, building Monzo into the one app that sits at the centre of our customers’ financial lives. Each milestone we’ve reached to this point has given us more strength and speed to make strides towards our mission – now we’ll scale to even greater heights and seize the huge opportunity ahead,” TS Anil, Monzo CEO.