UK-based Monzo, a prominent digital-only bank headquartered in London, England, announced on June 3, 2025, that its annual revenue crossed $1.35 billion for the first time. The fintech firm reported a pretax profit of £60.5 million for the year ending March 31, 2025, a sharp rise from the £13.9 million recorded the previous year. The growth was fueled by an expanding customer base, with deposits rising 48% to £16.6 billion. Monzo, which has over 12 million users, is also considering a stock market listing and international expansion, particularly in Europe and the United States.
British digital bank Monzo, headquartered in London, has reported a significant jump in its annual profit alongside crossing $1.35 billion (£1 billion) in revenue for the first time. The mobile app-based fintech company announced a pretax profit of £60.5 million for the fiscal year ending March 31, 2025, a remarkable rise from £13.9 million recorded the previous year.
Founded in 2015, Monzo has grown rapidly to become one of the leading digital-only banks in the UK, challenging traditional giants like HSBC, Lloyds, Barclays, and NatWest. The bank serves more than 12 million personal and business customers, and its customer deposits surged 48% to reach £16.6 billion during the year.
Monzo’s success comes as the company continues to expand its footprint, planning further growth in Europe through Ireland and strengthening its presence in the United States. The bank is also preparing for a potential initial public offering (IPO), with reports indicating it may list either in the UK or the US, although no official timeline has been announced.
Last October, Monzo was valued at £4.5 billion following an employee share sale involving investors such as Singapore’s sovereign wealth fund. The company’s strong financial results highlight its rising influence in the British banking sector and growing international ambitions.