Monzo Experiences Significant Growth in 2025

British digital bank Monzo has seen impressive growth in 2025, expanding its range of financial services.

In the latest fiscal year, Monzo reported a 48% increase in revenue, reaching £1.2 billion (around $1.6 billion). The number of customers rose by 25%, hitting 12.2 million, while customer deposits soared by 48% to £16.6 billion (about $22.5 billion), as noted in their annual report released on June 2nd.

Monzo’s CEO mentioned in a LinkedIn post that the bank started ten years ago with the aim of revolutionizing banking for its users. He highlighted that Monzo is now the UK’s largest digital bank, boasting a strong customer base and brand recognition.

In his update, Anil noted that the bank rolled out more new products in the past year than ever before, including accounts for children aged 6-15 linked to parent accounts and new pension options. There’s also a subscription plan that brings added benefits.

The growth in revenue was particularly noticeable in the business banking sector, providing support for more individual and corporate clients, which is reflected in the increase in customer deposits. Interestingly, 33% of Monzo’s customers now use it as their main bank.

He anticipates even more new products and markets in the upcoming year, suggesting that the Monzo experience will continue to evolve.

Earlier reports indicated that Monzo aimed to go public, though there was some disagreement among leaders regarding the ideal location for the listing. Anil seemed to favor a U.S. initial public offering (IPO), while others preferred a listing in London. In 2024, Monzo was valued at $5 billion and had begun initial talks with bankers to prepare for an IPO, although timelines were still unclear.

He also stated that it might be premature to discuss specific details about the public offering, but expressed optimism about Monzo’s potential to become an excellent public company.