Tag: Challenger bank

UK digital bank giant Monzo has reached a $4.5bn valuation after it recovers from its slump in 2020.

UK challenger bank Zopa has secured £220m in funding, as it edges closer to becoming profitable.

German digital bank N26 has reached a $9bn valuation, following the close of a $900m investment round, which it claims to be the largest financing of a digital bank in Europe.

Challenger bank Fair has closed a $20m investment round and announced that it will open early bird membership enrolment in March as it eyes April launch.

Research by accountancy and advisory business BDO has found lending by challenger banks in 2020 reached a record high of £143bn – a hike of 11% on 2019.

UK challenger bank Atom Bank reportedly experienced an operating loss of ?36m in the financial year ending March 2021, down from ?46m in the previous year.

Challenger bank Bunq has reportedly closed a €160m funding round, which puts its valuation at €1.65bn.

Berlin-based challenger bank Vivid Money has raised $60m from a Series B funding round led by Greenoaks.

Dutch challenger bank Bunq has partnered with London-based payments company Volt to provide a faster way for Bunq customers to transfer money from other accounts.

Swiss challenger bank Alpian closed a $18m Series B round, less than a year after its $13.6m Series A round.