Monese, the globally-connected banking service, today announces that 1 million people have signed-up to Monese, with customer growth tripling in 2018, and over 3,000 people now joining Monese everyday. Demand for Monese across mainland Europe surpassed that of the UK in November 2018, and in March 2019, two-thirds of all sign-ups to Monese were in mainland Europe. This milestone demonstrates significant momentum, following Monese’s successful $60 million Series B fundraise in September 2018. France and Germany are Monese’s core markets outside of the UK, with over 100,000 and 80,000 sign-ups respectively. Unlike many of its peers, customers are also using Monese as a primary bank account, with 70% of incoming funds being salary payments.
Monese provides mobile-only UK and European current accounts, small business accounts, and is available in 31 countries in Europe. Both the app, and all aspects of customer service, are available in 12 languages, allowing people and businesses to bank like a local across Europe.
Monese’s 1 million sign-ups milestone follows a number of significant partnerships and product developments. In February, Monese became the world’s first current account to link with Avios, the loyalty currency, so users can easily track and maximise their Avios balance and check their transactions. In April, Monese also enabled Apple Pay across 12 European countries. Apple customers living in UK, France, Germany, Belgium, Denmark, Finland, Ireland, Italy, Poland, Spain, Sweden and Switzerland are able to use their Monese cards via Apple Pay, wherever Apple Pay is accepted globally.
Norris Koppel, Founder and CEO of Monese, said: “We are delighted to have achieved one million sign-ups and see such strong growth across Europe. This is a fantastic achievement and we are all incredibly proud of reaching this milestone. Back in 2015, We launched Monese with two beliefs. First, banking should be truly global. The second, technology should give everyone access to modern, convenient and affordable banking services. Today, we feel closer to both of these goals. The fact that we are used as a primary account by the majority of our customers tell us we are meeting a real need.
“The past 12 months alone has seen the business not only announce an incredibly successful Series B fundraising, but also the launch of Monese Business, opening of new offices in Lisbon and Berlin, customer service in 12 languages, enabling Apple Pay and launching our exclusive partnership with Avios, and this is only the beginning.’
In September 2018, Monese announced that it has secured $60 million in capital as part of its Series B Funding. The round was led by Kinnevik, a global investor focused on digital businesses, with participation from PayPal, European investor Augmentum Fintech and International Airlines Group for its loyalty and data business Avios Group Ltd.
The first mobile-only current account provider in the UK, Monese was founded in 2013 by Norris Koppel, after his first-hand experience of the hassle involved with opening a bank account in a new country. Monese’s mobile-only dual UK and European current account can be opened in just minutes with a photo ID and a video selfie. It provides a banking service for mobile people. These are the hundreds of millions of people who live some part of their life in another country – whether it’s for travel, work, business, study, family, or retirement.
Monese fully supports and speaks: English, French, German, Romanian, Polish, Portuguese, Italian, Spanish, Bulgarian, Czech, Lithuanian and Turkish languages.
The company employs 250 people, and has offices in London, Tallinn, Lisbon and Berlin.