Y Combinator invests in Monzo through its Continuity Fund

U.K. online bank Monzo has raised £113 million ($144 million) in a fresh round of funding led by the U.S. start-up accelerator Y Combinator. Monzo is now valued at over £2 billion ($2.5 billion), double the £1 billion it was worth in its last funding round in October last year. “It is a really great signifier of how far we’ve come since the last round,” Tristan Thomas, Monzo’s head of marketing, told CNBC, adding that the bank has also doubled its customer count to more than 2 million since the last round.

Source: www.cnbc.com