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Monese
Mobile-only digital banking alternative
- 201-500 employees
- Fintech
- B2C
- B2B
- Banking
- Personal finance
- Accounting
- City of London, London, UK
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Company mission
To make global banking accessible to everyone. Not only do they want to make opening and using an account as easy as ordering an Uber, they also wanted to ensure it was accessible to everyone and not just a select few with perfect credit scores and several month’s worth of utility bill documentation.
Our take
Banks haven't innovated their consumer offering for decades. The tide is now turning, with fast moving disruptors building consumer-first businesses and products with many more useful features.
Monese's differentiator is that they target customers with a ‘thin’ credit file or who are newly arrived in a country, and the account can be opened in just 2 minutes with minimal documentation.
This makes it attractive to recent migrants or other customers that don’t have a full financial history and therefore may find it more cumbersome to apply for an account with a high street bank.
The company launched its newest XYB banking platform in May 2023, which is a 'coreless' platform aimed to improve the way banks make financial services available for UK and European clients.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Work from home opportunities
Funding (last 2 of 7 rounds)
Sep 2022
$35m
LATE VC
Sep 2021
$90m
SERIES C
Total funding: $203.1m
This company has top investors
Leadership
Norris Koppel
(CEO)Founded two fintech businesses before Monese; MyJar (micro-lending service) and LendFusion (software platform for lenders).
People progressing
Joined as a Product Designer. Promoted to Lead Designer after 7 months. Then promoted again to Head of Product Design after 2.5 years. Was then promoted to VP of design after another 3 years.
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