Finance
Monzo Nabs $5.9 Billion Valuation After Employee Share Sale
- Valuation is up from $5.2 billion price tag it received in May
- Secondary share sales have been popular for Europe’s fintechs
A Monzo Bank Ltd. and Revolut Ltd. app.
Photographer: Betty Laura Zapata/BloombergThis article is for subscribers only.
Monzo Bank Ltd. said a secondary share sale that allowed the company to give employees liquidity for their stakes valued the company at $5.9 billion.
Existing investors including StepStone Group Inc. and Singapore’s sovereign wealth fund GIC Pte participated in the round, according to a statement. The company didn’t disclose how much equity employees chose to sell during the round.