Monzo Announces Share Sale Valued at $5.9 Billion

The digital bank offers employees a chance to sell shares ahead of a potential IPO, as valuation climbs by $700 million since May.

Monzo is conducting a secondary share sale, allowing employees to sell shares with a valuation increase to £4.5 billion ($5.9 billion).
New York's StepStone Group and Singapore's GIC are purchasing shares from Monzo employees as part of the deal.
The share sale comes just weeks before the UK government is expected to raise capital gains tax rates.
Monzo, which achieved its first annual profit in June, now has over 10 million customers in the UK.
Speculation about a potential IPO is growing, although Monzo's CEO TS Anil has not confirmed any immediate plans.