# Monzo confirms secondary market share sale to provide liquidity for employees.

*fintech · news · 2024-10-11 · TechCrunch*

## Key points

- Monzo's valuation has risen to $5.9 billion following a secondary market share sale.
- Existing investors GIC and StepStone Group acquired additional Monzo shares in the transaction.
- Monzo now claims 20% of U.K. adults and 6% of U.K. businesses as customers.
- The company reported its first full-year pre-tax profit and doubled revenue year-on-year.

**Companies:** Monzo
**Countries:** United Kingdom, Singapore

[Read the full story on TechCrunch](https://techcrunch.com/2024/10/11/uk-neobank-monzo-hits-5-9b-valuation-with-secondary-market-sale/)

---

Canonical: https://newsio.io/n/95d3eaa0-e208-4b5f-9fbc-e6d2cc087d97/monzo-confirms-secondary-market-share-sale-to-provide-liquidity-for-employees-si
Summarized by Newsio from TechCrunch. https://newsio.io/how-it-works