Monzo secures GBP 60 mln funding

Backing the round are existing investors Y Combinator, General Catalyst, Accel, Stripe, Goodwater, Orange, Thrive, and Passion Capital, along with new investors Reference Capital and Vanderbilt University. Also, the down round sees the bank take a 40% hit in its paper pre-money valuation compared to its previous round, now priced at GBP 1.24 billion. This is possible to reflect the current funding climate amid the coronavirus crisis.