Fintech Unicorn Monzo Is Expanding Into the U.S.12

With over 1.9 million customers in the U.K., on Thursday the rapidly growing banking unicorn Monzo announced plans to launch in the U.S..

The British firm has lured customers away from traditional banks in the country by promising a better customer experience. It is adding about 200,000 customers a month, and raised 85 million pounds in its most recent round of funding. That puts its valuation north of 1 billion pounds, with investors including Accel, Thrive Capital, and General Catalyst. However reports suggest that Monzo may be raising more funding from a U.S. investor that could value the firm at about 2 billion pounds.

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