Monzo

Digital banking giant Monzo has reached £1bn in gross profit for the first time, according to annual results published on Tuesday. This marks the London-based fintech’s third consecutive year of profitability, with a 20% rise in its adjusted profit before tax to £172.6m. The bank also saw a 39% boost in revenue, with four of its income streams bringing in over £300m: current account balances, borrowing, payments and wealth. A record 3m customers joined the bank this year, with the bank's regular users hitting 10.4m.

Source: Sifted

Monzo has completed the acquisition of Habito, a UK digital mortgage broker, marking a significant expansion into the mortgage market for the neobank.

Source: Mortgage Strategy

Monzo officially went live in Ireland, marking its first European market expansion outside the UK, with over 100,000 customers having signed up on the waitlist ahead of launch. The Irish launch follows closely on the heels of Monzo's US market exit.

Source: Finextra Research