Stripe and Goodwater Capital Lead $93 Million Investment in Monzo

November.07.2017

Orrick advised both Stripe and Goodwater Capital on a $93 million Series D financing round in Monzo, a digital and mobile-only English bank. Michael Moritz and existing investors Thrive Capital, Passion Capital and Orange Digital Ventures also participated.

Monzo is a “challenger” bank in the United Kingdom that is seeking to overturn the dominance of the more established banking institutions. Founded in 2015, Monzo has raised over $135 million to date. The company plans to use the new capital to expand its team as it rolls out its savings and checking accounts to its users.

The Orrick team advising on the round featured a trans-Atlantic team of corporate, regulatory, employment, IP and other specialist lawyers consisting of partners John Bautista, Harold Yu, Chris Grew, Shawn Atkinson, Jacqui Hatfield, Kolvin Stone and Nicola Whiteley, as well as Josh Pollick, Dan Weiner, Jose Campos, Jamie Moore, Brandon Sanders, Bridget Winters, Mandy Perry, Matthew Pearce, Alex Sobolev, Stephen Tallon, Alice Taylor, James Lindon, Stephen Hancock, Ingrid Hesselbo and Kevin Wong.