Monzo valued at $5bn after fresh funding round
Updated : 15:21
Online challenger bank Monzo has secured a new $430m (£339m) funding round led by the Alphabet-owned CapitalG which values it at $5bn (£3.9bn).
Other backers in the new funding round include Chinese venture capital firm HongShan and existing investors Tencent and Passion Capital.
Monzo said in a statement it would use the funds to expand and introduce new products.