Monzo Bank Limited, trading as Monzo, is a British online bank headquartered in London. It was founded on February 18, 2015, with the goal of creating a branchless, app-based bank. Monzo provides services such as core banking, internet banking, invoicing, overdrafts, and loans. Originally operating through a mobile app and a prepaid debit card, Monzo's UK banking licence restrictions were lifted in April 2017, enabling it to offer a full current account. As of August 2025, Monzo reported having more than 12.5 million personal banking customers.
Monzo offers a variety of accounts and services, including current accounts, business accounts, savings options, credit cards, loans, investments, pensions, and home insurance. Key features of Monzo's platform include instant notifications, budgeting tools, and the ability to freeze/unfreeze cards within the app. As of late 2025, Monzo was preparing for a potential public listing, with a valuation that investors hoped could reach up to £10 billion. In October 2025, it was announced that TS Anil would be stepping down as CEO, to be replaced by Diana Layfield, a former Google executive. However, in December 2025, some shareholders were reportedly plotting to reinstate Anil and remove the chair, Gary Hoffman.
