UK-based Monzo Bank is reportedly exploring the possibility of a private share sale, working in collaboration with Morgan Stanley. This move follows an alleged preparation phase where Monzo was assessing investor interest.

According to sources familiar with the matter, who spoke on condition of anonymity due to the ongoing nature of the plans, Bloomberg reported that this potential new round is still at an early stage and no formal structure or valuation target has been agreed upon. This development comes as a trend in fintech companies seeking higher valuations and preparing for possible public listings; a recent example being Revolut’s USD 3 billion fundraising.

Monzo recently secured USD 190 million, bringing its total funding to USD 610 million by March 2025. With investments from Capital G, Alphabet Inc.’s independent growth fund, and new participants, the company achieved a valuation of around USD 5.9 billion. Following this round, Monzo organized a secondary sale for employees, further increasing its valuation.

Monzo’s expansion since its inception has seen it become a profitable digital bank with services used by approximately 13 million customers. The bank reported pre-tax profits close to USD 80 million for the fiscal year through March 2025. Its business model hinges on subscriptions, lending, and transaction fees.

Recent Developments

In October 2025, Monzo was reportedly considering a new application for a US banking license to bolster its presence in the largest banking market, following earlier unsuccessful attempts several years ago.