Nubank Considering Acquisition of British Monzo

Brazilian Nubank is considering a possible deal with British digital bank Monzo. If an agreement is reached, Monzo could be valued between £8 billion and £10 billion, or roughly $10.6-13.3 billion.

Monzo is weighing two options. The first is a merger with Nubank, and the second is running a new funding round. The bank needs additional capital to expand its operations into other European countries. Monzo and Nubank have declined to comment on the negotiations.

Nubank is based in São Paulo and its shares trade on the New York Stock Exchange. The company's market value is approximately $65.5 billion.

Monzo closed the financial year ending in March with a pre-tax profit of £87.3 million. The previous year, this figure stood at £60.5 million. Revenue grew from £1.2 billion to £1.7 billion. In October 2024, the bank was valued at £4.5 billion.

Source: Reuters