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To date, this latest investment brings the total raised by Monese to $208 million.
London and Tallinn-based Monese is a leading pan-European fintech that offers smart money services to millions of consumers across Europe. In 2021 Monese launched its cutting-edge Platform as a Service business. Monese was launched in 2015 by the entrepreneur Norris Koppel, after his first-hand experience of the pain of trying to open a bank account in another country, and was Britain’s first mobile-only banking service.
The completion of this deal involved cross-sector and specialist FinTech expertise from TLT. The commercial partnership advice was led by tech IP and data partner David Gardner, who leads TLT’s Fintech sector practice. Corporate legal director Dan Whitewood led on the equity investment advice, each working closely with Monese’s in-house legal and senior executive team.
Norris Koppel, founder and CEO of Monese, said: “Securing the support of a tier one global bank demonstrates the strength of our platform and the continued appetite from investors in the platform. We look forward to taking this partnership forward. We’re extremely grateful for the help and support provided by the whole team at TLT. Their specialist and detailed knowledge of the industry and expert advice was instrumental in helping us get this deal over the line.”
David Gardner, FinTech partner at TLT said: “It has been a pleasure advising Monese on this important investment and partnership that supports its strategic growth plans. We are proud to support an organisation working to remove financial barriers. The project showcases the expertise of TLT’s market-leading FinTech practice, providing seamless advice across the equity investment, technology partnership and financial services regulatory elements of the deal.”
11 October 2022