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Description
Monzo Bank Limited () is a British online bank based in London, England. Monzo was one of the earliest of a number of new app-based challenger banks in the UK.
Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. As of June 2023, Monzo had over 7.4 million customers. Their most recent financial results issued in June 2023, showed an annual net loss of £116.3 million (a decrease from the £119 million lost in the previous year) on revenue of £355.6 million.
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