British neobank Monzo raises $190 million, led by Hedosophia and CapitalG

Monzo, a new bank in the UK, has raised $190 million in funding with Hedosophia and CapitalG (Alphabet's independent growth fund) leading the way. This latest funding round brings Monzo's total funding for the year to $610 million, with a post-funding valuation of $5.2 billion. Monzo CEO and co-founder TS Anil stated that the plan is to use this cash to create new products and accelerate international expansion plans.