Monzo’s a fintech unicorn

DIGITAL bank Monzo, known for its distinctive pink cards popular with millennials, is set to become Europe’s latest fintech ‘unicorn’ – the term given to start-ups valued at more than $1bn. A round of fundraising looks likely to value the east London-based bank at $1.5bn, or £1.2bn. At the moment Monzo has has 870,000 customers.