Monzo merger?

Wasn’t Monzo going ti*s up relatively recently until it got more investor funds to burn through?

Not that I’m aware of.

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Monzo over C19 in an investor report said that it was unsure if it could sustain current operations in coming years, but that was very recently after their U.S. CEO took over the group

I read about him at one point if I recall and he’s a very experienced guy who knows what he’s doing

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It was certainly going that way with two down rounds after the pandemic.

But then they hit big with their last round in Feb last year for a reasonable (if inflated) £407m.

The company that funds lunar is also the same as Monzo I understand so it was probably part of the deal that this might happen.

TS Anil seems a heck of a lot more switched on than Tom in terms of how to operate at scale, but I still suspect acquisition (which this is not) is still on the cards one day as the end game.

Time will tell.

I feel my investment swelling as we speak. :relieved:

My concern with Monzo is they seem to be trying to get blood out of a stone. As we have said many times Starling seems to attract customers with more money.

The financial results show it this year where Starling nearly brings in double the revenue per customer that Monzo does.

It’ll be interesting to see if revenue per customer does keep going up or just flat lines at some point.

You can make money in many ways, Monzo has decided to be the ultimate retail customer machine with less profitable customers but more of them

Starling meanwhile doesn’t seem to be interested in doing much else, just a retail bank with a growing mortgage book and a good amount of customers. Offers an okay deal, sometimes

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Starling does plan to offer mortgages to retail customers which is where the real money is. Don’t know if Monzo is planning to do the same.

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Lloyds will be the one to lead the way on mortgages in the future. I’d take them private if I was Elon

Bank of Scotland is already the largest UK mortgage lender.

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Hold on wasn’t Halifax the biggest mortgage leader in the UK? That was pre Lloyds shotgun take over but still.

Eh, probably doesn’t matter too much. Lloyds, BoS and Halifax being in the same group n all

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True but I thought I’d be a bit pedantic. :stuck_out_tongue_closed_eyes:

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Bank of Scotland has/had IF, Birmingham Midshires, Halifax and Bank of Scotland branded mortgages.

Halifax has been only a trading (brand) name of Bank of Scotland for years.

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True but even when the Halifax were a stand alone business it still was the biggest.