London-based FinTech app Monzo tops 13 million clients on the again of document progress

British digital financial institution Monzo at the moment introduced that it surpassed 13 million clients, because it progresses at tempo with its ambition to construct the one app clients flip to to handle their whole monetary lives.

As Monzo marks its tenth anniversary, it now serves 12.5 million private clients – that’s 1 in 5 UK adults – and greater than 700,000 enterprise clients or 1 in 8 UK companies. The financial institution added c.1 million clients within the final quarter alone.

TS Anil, CEO of Monzo, mentioned: “Monzo has achieved a uncommon feat – we’ve constructed a financial institution that clients love. And that love continues to energy enormous progress, with two-thirds of latest sign-ups coming from word-of-mouth suggestions. From serving to underneath 16s find out about cash to supporting clients of their 90s and past, we’re right here for each stage of our clients’ monetary journey, with so many extra game-changing merchandise and options to return. It’s extremely thrilling to see Monzo Enterprise additionally rising quickly as Monzo turns into the financial institution of alternative for SMEs.”

Monzo was based in 2015 and now serves greater than 13 million clients, allegedly making it the most important digital financial institution within the UK in addition to the seventh largest UK financial institution by buyer numbers. With a mission to “earn money work for everybody“, Monzo is understood for innovating industry-first options just like the Playing Block, Name Standing, Added Safety, Tax Pots and the 1p Saving Problem.

At this time’s announcement follows a promising efficiency from Monzo in FY2025 the place revenues grew 48% to €1.3 billion and adjusted revenue earlier than tax surged to €130.6 million, up from €15.9 million. Since then, Monzo has welcomed over 300,000 new clients each month, with Could and June the largest months on document for brand new sign-ups.

Monzo has 650,000 clients with Below 16 accounts and greater than 1,000 clients over the age of 90, with two-thirds of latest sign-ups coming from word-of-mouth suggestions. Together with Monzo’s 13 millionth buyer, a girl in her 50s, who signed up by way of a referral.

At this time, 40% of Monzo Enterprise clients are girls – greater than double the UK common, the place solely 15% of SMEs are female-led. This factors to Monzo’s potential enchantment to feminine entrepreneurs seeking to begin, run and develop their companies.

This newest milestone follows the launch of a sequence of merchandise and options over the previous 3 months, a lot of that are industry-firsts. These embrace:

• ETFs – 11 rigorously curated Change Traded Funds, designed for purchasers who need extra alternative of their investing whereas protecting it easy and accessible for first-time traders.

• Residence Insurance coverage – a mixed buildings and contents coverage that enables householders to personalise their cowl and alter or cancel their coverage at any time with no further charges.

• Undo Funds – one other industry-first safety characteristic, which supplies clients a customisable 10-60-second window to cancel a financial institution switch if a mistake is made.

At this time, clients can finances, save, borrow, make investments, monitor their mortgage, consolidate their pensions and insure their residence all inside the Monzo app – with extra on the horizon as per the corporate