When Will Monzo Have An IPO?

April 24, 2023 8:30 am
Published by: Benjamin Baxter

Monzo is an online mobile bank that boasts upwards of seven million active customers, making it the UK’s seventh-largest operational bank. It has a valuation of $4.5 billion and earns an average annual revenue of $545 million.

Investors eagerly await the release of the Monzo IPO after CEO TS Anil stated that the company will go public sometime in 2023. This article discusses everything we know so far about the Monzo IPO, its history, funding, valuation, and predicted IPO date.

What Is Monzo?

Monzo is a UK-based online bank run entirely through a mobile app. It has a full banking license and serves upwards of seven million customers, making it the country’s seventh-largest bank by the number of active users.

Founded in 2015 by British entrepreneur Thomas Benjamin Blomfield, Monzo is one of the fastest-growing banking services in the world. In under five years, the company went from making practically nothing to six figures monthly.

By the end of 2022, Monzo closed an annual revenue of £440 million (approximately $545 million), a 2.5 times increase from the previous year.

Monzo kept its growth strategy under wraps, but it did mention that over 350,000 people have subscribed to its Monzo Plus and Monzo Premium plans, costing £5 and £15 per month, respectively.

The bank also stated that over 200,000 businesses use Monzo’s banking services, with at least half subscribed to Monzo’s Pro business account (£5 per month).

With nearly 150,000 new signups each week, Monzo rivals the growth of challenger banks Starling and Revolut. As of 2023, Monza has a valuation of £3.7 billion ($4.5 billion).

When Is the Monzo IPO?

Monzo has yet to reveal an official Initial Public Offering (IPO) date.

Several well-known investment companies have approached Monzo about a potential IPO, but formal talks have yet to be established. When asked about developments, the company declined to comment.

In a 2021 Wired interview that talked of Monzo’s IPO plans, CEO TS Anil mentioned that the company will likely go public sometime in 2023 or 2024 at most.

With that said, CEO Anil stated that Monzo is more focused on launching their services in the US than going public. And with the ongoing recession and financial crisis underway, the IPO might be pushed back later than expected.

Monzo is currently Europe’s third most valuable neo-bank, right after Revolut and N26. It broke the world record for the fastest crowdfunding in 2016, raising upwards of £1 million in under two minutes (96 seconds).

It has raised $1.18 billion in funding, the most recent being a $475 million Series H round led by Abu Dhabi Growth Fund.


As the third-largest neo-bank in Europe, Monzo is quickly becoming one of the world’s most valuable online banking platforms. Investors keenly await an IPO, which is believed to be scheduled sometime in 2024 or 2025 at most if the global conditions are met.

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