The UK-based lender, which holds approximately GBP 5 billion in assets according to Sky News, is also considering a secondary listing on a major exchange in the Middle East or India the following year.
The bank, launched in 2019, has raised around GBP 135 million from institutional investors and has already secured approximately GBP 30 million of its targeted Series C funding for this year. Sources cited by Sky News indicate that upon completing this fundraising round, Monument Bank could be valued at around GBP 1 billion.
Monument Bank, named after the London landmark commemorating the Great Fire, focuses on serving professionals, entrepreneurs, and property investors within the UK’s mass-affluent segment. It has reportedly opened over 60,000 accounts and maintains an average customer deposit significantly higher than most UK banks, exceeding GBP 60,000.
The company also owns Monument Technology Limited, a subsidiary that recently conducted a separate funding round, though some of its investors are not shareholders in the bank itself.
Responding to inquiries about the funding round, Monument Bank officials confirmed the bank’s aim to raise up to GBP 200 million. They stated that this would likely be the final fundraising effort before an eventual public listing, with the capital supporting product development and international expansion. They also added that while the bank is exploring various listing options, no final decision has been made.
Documents related to the Series C round explicitly mention Nasdaq as the preferred exchange, though other venues have not been ruled out. A decision to list outside the UK would add to ongoing concerns about the competitiveness of the London Stock Exchange, which has seen other challenger banks, such as Monzo, weighing similar moves.
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