Orrick Advises Kinnevik on Monese’s $60 million Series B Funding Round

September.10.2018

Orrick has advised Swedish investment firm Kinnevik as lead investor in the $60 million Series B financing round of Monese. Kinnevik were joined by PayPal, Augmentum Fintech and International Airlines Group (via its loyalty and data business Avios Group) as new investors in the fintech company, while existing investors including Investec’s INVC Fund also participated in the round.

Launched in 2015, Monese is a U.K.-based mobile banking services provider which allows customers to open a U.K. bank account within a matter of minutes without needing a U.K. address. The challenger bank offers customers a fully-fledged current account interface, low cost international money transfers and the ability to hold / transfer monies in multiple currencies.

The Orrick team was led by Ylan Steiner and included Joanna Oleniuk, Alexander Smith, Daniel Weiner, Charlotte Oliver, Jacqui Hatfield and Candice O'Brien.