Nubank Shuts Down Monzo Deal Speculation
Hey Digital Banking Fanatic!
Nubank just put an end to the Monzo deal speculation.
Just a few days after reports emerged that the two banks were in talks, Nubank said it isn’t pursuing an acquisition of Monzo.
That closes the door on a potential deal that could have valued Monzo at £8 billion to £10 billion.
Nubank is instead sticking with the plans already in place, focusing on growth across Latin America and further international expansion.
So where does that leave Monzo?
The UK digital bank is still weighing its options, including a potential funding round, so there could be another big development around the business before long.
A Nubank-Monzo deal would have been quite a combination. But for now, it’s off the table.
Here’s what else is happening in digital banking today👇
See you Monday!
Cheers,
INSIGHTS
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NEWS
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