Monument Bank Plans £200M Raise Ahead of Nasdaq IPO
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Monument Bank, the UK-based lender targeting mass-affluent customers, is in discussions to raise £200 million in a Series C round as it prepares for a Nasdaq listing by 2027. The bank, which launched in 2019, so far has already secured £30 million of this round and has raised £68 million to date.
Since its launch, Monument has focused on serving professionals, entrepreneurs, and property investors, opening over 60,000 accounts with an average deposit balance of more than £60,000. So far the bank has attracted over £5 billion in total deposits, positioning itself among the notable players in the UK’s specialist banking sector. The bank was founded under the leadership of former Co-operative Bank CEO Niall Booker and is now headed by ex-Barclays executive Ian Rand.
“We anticipate that this will be our final fundraise that will support our product and international expansion, and fund our path to listing,” said Rand. The bank is also pursuing banking licenses in Dubai and India, signaling its broader ambitions beyond the UK.
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