Monzo Boss Plays Down IPO Rumours After Jump in Profits
Weekly news up to Tuesday, 3rd of June 2025
👀 NEWS HIGHLIGHT
IG Group, a United Kingdom-listed trading and financial services company, is launching cryptocurrency trading to retail investors, expanding its footprint in the digital assets space.
IG customers can now access 31 crypto assets, including Bitcoin, Ether, XRP and a variety of altcoins and memecoins such as Bonk , the company said in an announcement shared with Cointelegraph on June 2.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Monzo boss plays down IPO rumours after jump in profits.
⭐️ SME lender Tide eyes $1bn valuation in Apis funding talks.
⭐️ TransferMate Partners with Deutsche Bank to Expand B2B Payments Network.
⭐️ Banking Circle boosts European payments by connecting to Swiss Interbank Clearing (SIC).
FINTECH
UK FinTech Yonder is launching a rewards debit card. With this launch, Yonder aims to bridge the gap between convenience and value, giving users the ability to spend confidently while enjoying meaningful perks, without the need for credit.
Lloyds team up with Lumio to help couples better manage their finances. Lumio’s cutting-edge app allows couples or other people who manage a household budget together to manage their finances in a shared space, track and automatically split shared expenses, and save together towards common financial goals.
Bank of Italy Chief Fabio Panetta urges EU to launch digital Euro. Panetta argued that only a central bank–issued digital currency could offer the trust, resilience, and transparency needed to support digital payments in an era of globalized cryptocurrency finance.
British challenger bank Monzo's profit soars and revenue tops $1.35 billion. The digital bank has reported significant growth, with its customer base increasing by 25% to reach 12.2 million and revenue rising by 48% to £1.2 billion. Meanwhile, Monzo's boss denies IPO rumours after jump in profits. “Honestly, an IPO is not something we’re focused on right now,” Chief Executive TS Anil said.
Bunq strategy head Bianca Zwart on going ‘deep not wide’ in Ireland. Zwart said that the “Bunq bikes” aimed to further drive the neobank’s brand recognition, which she said was making noticeable leaps here. Read more
PAYMENTS
Stripe fuels UK business growth with global money management capabilities, including a major expansion of its money management capabilities, tools to make it easier to trade internationally, and the world’s first AI foundation model for payments.
Visa A2A payments land in the UK. The giant card is aiming at the burgeoning account-to-account market through its new pay-by-bank offering. Visa A2A promises to give Brits greater choice, control, and protection over how they pay via bank transfers.
GoCardless expands payment platform with outbound payments, a significant expansion of its platform that will enable merchants to send money directly to customers, suppliers, and third parties. The payouts will also help them save time and money as they eliminate costly setup, maintenance, and contractual processes.
REGTECH
Bybit secures MiCAR license in Austria and opens European headquarters in Vienna with strategic expansion plan. With this new license, Bybit can now operate as a fully compliant crypto-asset services provider and passport its regulated and localized crypto products and services.
DIGITAL BANKING
Griffin begins building of agentic bank. Griffin is opening up access to a Model Context Protocol (MCP) server, providing a way for AI agents to autonomously perform tasks on behalf of customers. Keep reading
Starling pays out a fivefold bonus sum despite the FCA fine and Covid loan errors. Starling’s annual report showed the bank’s remuneration committee approved a £600,000 bonus for its highest-paid director, taking their total pay packet to £1.7m. It paid another £5.4m in bonuses to Starling’s board members.
CRYPTO
Santander weighs crypto push with early-stage stablecoin plans. Santander's online banking unit, Openbank, has applied for licenses to offer retail crypto services under the European Union’s new regulatory regime, and may launch crypto services as soon as this year, pending regulatory approvals.
Midas launches tokenized T-Bill on Algorand, offering European investors exposure to yield-bearing government bonds with no investment minimum required. The mTBILL is a tokenized certificate that references short-term US Treasury exchange-traded funds (ETFs).
The Bank of Lithuania has issued a license for crypto asset services to Robinhood Europe, a subsidiary of US-based FinTech company Robinhood. The license allows Robinhood Europe to provide crypto asset custody, administration, and transaction services in Lithuania and across the European Union.
PARTNERSHIPS
Garanti BBVA Romania enables 24/7 instant payments with Allevo. The Instant Payments service facilitates near-instant fund transfers between participating institutions, with transaction limits set at 10,000 RON per payment and up to 49,999.99 RON for collections. Payments are processed within seconds.
TrueLayer partners with Tebex to enter the gaming market in landmark pay-by-bank deal. With TrueLayer’s Pay by Bank solution, players can pay directly from their bank in a few taps, with no card fees, chargebacks, or redirects. Keep reading
Tietoevry Banking and Lokalbank to launch banking platform in Norway. With this solution, banks seek to offer scaled security and compliance with regulatory requirements, with the solution including core banking services, mobile and online banking, payment systems, card services, and anti-financial crime tools.
TransactPay partners with Griffin to enhance its customer proposition. TransactPay can now streamline its operations with dedicated safeguarding accounts for e-money programs, operational accounts for working capital and card scheme obligations, and easy access savings accounts to offer alongside its card products.
DONEDEAL
Copenhagen-based FinTech startup Groundley secures €970k to build smarter finance engines with AI magic. With the new capital, Groundley will look to scale its operations, enhance its AI capabilities, and expand its reach within the European enterprise landscape.
Salad Money secures £2M investment to expand affordable lending. The infusion of capital aims to address the growing demand for affordable, mid-cost loans, offering a lifeline to workers who are often excluded from mainstream credit options.
London-based Quanted raises new funding to improve data validation in finance. The capital will be used to expand Quanted’s engineering team and to support the ongoing rollout of its product. Continue reading
Brussels-based FinTech startup Husk raises €1 million to help startups optimise costs and manage their cash flow. This included support from the international accelerator programme Techstars, investment funds Birdhouse Ventures, NewSchool.vc, and experienced business angels.
Madrid-based Payflow raises €10 million to expand its earned wage access platform across Europe and Latin America. The company looks to be a market leader in Spain and LatAm, with over 1.000 clients and 11 out of the 60 largest employers in Spain, and is currently expanding internationally across Europe.
MOVERS & SHAKERS
Wirex Limited appoints Chet Shah as CEO to lead the next phase of strategic growth. The UK payments sector is dynamic, competitive, and fast evolving. Under Chet’s leadership, Wirex Limited is set to become a formidable force, one that is safe, sustainable, and strategically prepared.