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Monzo: From Material Uncertainty to Growth

Monzo: From Material Uncertainty to Growth

🥁 Introducing the latest addition to our series of reports on Neo-banks: 


Monzo: From Material Uncertainty to Growth

Deep-dive and Benchmarking


If you enjoyed our previous research on Starling Bank and N26, you will be happy to hear about our new Monzo report.Differently, from our last report on Monzo: The Evolution of a Marketplace Model, this document focuses on how the bank has emerged in a stronger post-pandemic position and is ready for further growth, as we looked into their latest data from financial statements for the year ending March 2022.


Monzo, only second to Revolut as the largest UK consumer-focused Neo-bank, is a special contender in the FinTech sector largely thanks to its obsession with customer experience, which has been both a blessing and a curse for the company. 


Our analysts take a look at what this has meant for the company, now 7 years old and recovering from a global pandemic to the ways in which it adapted its business model during times of crisis. Our report finds that despite the challenges of the past two years, Monzo continued to raise funds, diversify its sources of income, keep losses under control and grow rapidly revenue, all whilst remaining faithful to its goals of helping the community at large.


The team at C-Innovation has sifted through Monzo’s 185 pages of the last published financial report. In order to provide a 50+ slide report which reveals Monzo’s challenges during the pandemic and what the future prospects look like.


This report is aimed at FinTech businesses, enthusiasts and corporate banks looking for actionable takeaways which address the importance of strong company culture that accommodates a sustainable business model. We look at revenue diversification, customer retention, product development, partnerships, and funding, frequently drawing parallels between Monzo and its market competitors.


The following list summarises our Monzo report contents: (Contents do not reflect the contents from the new document, there are few changes)


  • Company Overview

  • Company Profile, Leadership Team, Shareholders and Investors

  • Growth and Product Approach

  • Customer growth vs competitors, Approach to Marketing, Spending in Marketing, Monzo's product stack, Partnerships, Strategic offerings, Key milestones, Funding and Valuation

  • Business Model

  • Business Model Overview, Personal accounts, for Businesses, Sources and Diversification of income, Income breakdown by source

  • Financial Metrics

  • Overview, Total Revenue, Costs & Operating Loss, Source of income evolution, Customer deposits, Gross Lending, Unit economics (£)

  • Competitors

  • The key Competitive landscape, Market share, Comparison of Valuations,  Key indicators vs. British competitors, User Experience, Customer feedback, Business banking growth

  • Future Prospects

  • Where will profit come from? Internationalisation? IPO

  • Key Takeaways

 *All the time keeping in mind the pandemic and how they adapted to the a new reality.


 If you want to learn more about Monzo, why should it come from us?


  • All of our sources are displayed and are up to date - leaving nothing to second-guess!

  • We have done all the hard work (sifting through financial statements and long press releases) and synthesised this information so that it is as easy to read, digest and apply as possible!

  • Themes and key points are stand alone, so if you need information quickly it can be easily identified and understood independently from previous slides.

  • Our experienced analysts are in-house, and so if you have any additional questions we are just an e-mail away.

  • Our opinions are objective and unbiased - we are not affiliated with Monzo and simply enjoy sticking our noses into their business model!

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