Monzo

Fintech · Digital Banking · M&A

Acquisition

Nubank reportedly in talks to acquire Monzo for up to £10bn

The tie-up would open a new front in Nubank's rivalry with Revolut just as Monzo's London listing hopes fade.

• Nu Holdings, the New York-listed parent of Brazil's Nubank, is in early-stage talks to acquire Monzo for £8bn-£10bn ($10.6bn-$13.25bn), Sky News reported.
• Monzo is the UK's largest digital bank by assets, with 15.2 million retail and business customers and £1.7bn in FY2026 revenue, up 39%.
• Monzo has hired Morgan Stanley, Qatalyst and law firm Slaughter and May as it weighs a sale against a fresh funding round above £8bn or a minority stake sale to private equity, including Advent International.
• The reported price is roughly double Monzo's £4.5bn valuation from an October 2024 employee share sale and about 115 times its £87.3m annual pretax profit.
• Nubank counts about 140 million customers across Brazil, Colombia and Mexico but has almost no retail presence in the UK or Europe, making a licensed Monzo platform valuable for expansion.
• The talks follow Monzo shelving US operations in June and come as rival Revolut pushes ahead with a dual London-Nasdaq listing and a new Colombian banking licence.
• A sale would trade Monzo's long-touted London IPO for cash and shares in a Latin American fintech, testing whether the UK can retain its homegrown digital banks as independent public companies.