This Is How Much Monzo’s Profit Just Soared
Hey Digital Banking Fanatic!
UK FinTech Monzo posted a pre-tax profit of £87.3m in the last financial year, 44% higher than the £60m obtained in 2024. The increase came along with a 40% higher revenue, sitting at £1.7bn.
I covered how Monzo dropped its ambitions for US expansion and has turned its attention to continental Europe. After securing its Irish banking license, the digital bank has launched in Ireland and has mentioned that Spain is the next on its expansion efforts.
Monzo was able to absorb cost spikes that came from regulatory developments, which included a £21m fine from the City watchdog last year.
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NEWS
🇬🇧 Monzo’s profit rockets as the customer base grows by a quarter. The neobank’s pre-tax profit came in at £87.3m, 44% higher than the £60m scored in 2024. The increase came as revenue stormed 40% higher to £1.7bn. Monzo’s total users ballooned 25% in the period to 15.2m, which paved the way for a 55% surge in deposits, reaching £25.7bn.
🇧🇷 Nubank turns 13 as one of the most influential financial institutions in the world. The institution that now serves 135 million customers in Latin America was born from a personal frustration experienced by founder and CEO David Vélez when trying to open an account in Brazil.
🇧🇷 Nu Empresas reaches 6 million customers and becomes the largest financial institution in Brazil in terms of the number of CNPJs (Brazilian company tax IDs). The milestone supports a new growth phase for Nu Empresas aimed at highlighting the platform’s financial management and credit solutions for businesses of different sizes.
🇵🇭 Tonik became the first profitable standalone digital bank. The bank attributed its performance to a lending-focused strategy targeting underserved borrowers, with loans accounting for nearly all of its revenue and its loan portfolio more than doubling year over year.
🇬🇧 Zopa first UK bank to be greenlit to roll out targeted support. The approval allows Zopa to deliver more tailored investment assistance aimed at improving customer confidence and participation in investing, supporting broader UK efforts to encourage greater retail involvement in the stock market.
🇬🇧 Adyen and Starling Bank offer Tap to Pay for UK SMEs. The collaboration begins with a tap-to-pay feature that allows SMEs to accept contactless card and mobile wallet payments directly on smartphones, with future plans to add payment links for invoicing and streamline the full payment process within Starling’s banking ecosystem.
🇭🇺 Revolut to start moving Hungarian users to local bank accounts within days. One of the biggest changes for users will be the introduction of Hungarian IBAN account numbers, allowing salaries to be paid directly into Revolut accounts. Read on
🇺🇸 Relay secures $50 million in financing to build the small business financial command center. The company plans to use the funding to accelerate customer growth and improve financial tools that help small businesses manage cash flow and operations more efficiently.
🇺🇸 BitGo unveils Modular Digital Asset Operating Model for Banks. The modular bank-ready operating model is designed to help financial institutions evaluate, launch, and scale digital asset capabilities within an established legal, compliance, risk, and operational framework.
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