In one of the first rounds of 2017 and another win for Fintech, Monese, a banking app for immigrants and expats, announced a hefty A round of $10 million. The app caters to immigrants and expats and in the context of Brexit, the round is notable because of its international consortium of investors.
Two lead investors, Estonia’s Smart Cap (in the first round with Seedcamp) and Korea Investment Partners (in this current round) are our clients and we’re pleased to have advised them on this deal. Other investors in the round include Anthemis Exponential Ventures and STE Capital. The total funds raised to date is $15.8 million.
According to TechCrunch, people view Monese as a solution to increasingly restrictive mainstream banking across U.K. and Europe.
The company says that consumers can open an account in about three minutes. The app is available in both Android and iOS.