Monzo to raise £50M, another funding during COVID-19 pandemic for London fintech

Monzo, the UK-based challenger bank that allows customers to access a range of products and services, is expected to raise a £50 million extension in Series G round from existing shareholders and a new San Francisco-based VC firm Octahedron Capital.

The new funding will take the amount raised by the digital bank during the pandemic to £175 million. It’s worth mentioning that the investment round will be carried out with the same financial terms as the rest of the rounds.

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