LONDON (Reuters) – Fast-growing British digital bank Monzo plans to hire up to 500 people and forecasts it will get 5.5 million users this year, as it prepares to have another crack at charging some customers to turn a profit.
FILE PHOTO: A smartphone displays a Monzo logo on top of banknotes in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/File Photo
The loss-making firm has burned through cash to fuel growth and launch in the United States, but has had no problems raising capital and is valued at over 2 billion pounds ($2.6 billion).
Launched in 2015, Monzo has attracted 3.8 million customers in Britain with its bright coral card and spend-tracking data.
Some younger customers in particular have become fierce advocates, with the digital bank ranked as the most likely brand in Britain to be recommended to a friend in a YouGov survey in November.
Tom Blomfield, the 34-year-old founder and CEO, told Reuters he expected Monzo to top 2,000 staff this year, up from…
Source Reuters Tech News