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Finance

Monzo in talks on sale to Nubank at about £10 billion valuation, Sky News reports

Published by Global Banking & Finance Review

Posted on September 26, 2026

2 min read

· Last updated: September 26, 2026

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Monzo and Nubank in Early Talks for £10 Billion Acquisition Deal – Sources

Potential Acquisition and Strategic Options for Monzo

Early-Stage Discussions Between Nubank and Monzo

Sept 26 (Reuters) - Brazil's Nubank is in early-stage talks with British digital bank Monzo about a potential combination that could value Monzo at between £8 billion and £10 billion ($10.60 billion - $13.25 billion), Sky News reported on Saturday.

Acquisition by Nubank

• An acquisition by Nubank is one of two options Monzo's board is currently exploring, Sky News said, citing a source close to the process.

Alternative Option: New Funding Round

• The other option is a new funding round expected to value Monzo at more than £8 billion, with proceeds earmarked for a mainland European expansion, the report said.

Comments from Monzo and Nubank

• Monzo and Nubank declined to comment.

Company Backgrounds and Financial Highlights

Nubank Overview

• Nubank, headquartered in Sao Paulo, is listed on the New York Stock Exchange with a market capitalisation of about $65.5 billion.

Monzo Financial Performance

• London-based Monzo made a pretax profit of £87.3 million for the year ended March 31, up from £60.5 million a year earlier, with revenue growing to £1.7 billion from £1.2 billion, according to its annual report.

Recent Valuation

• Monzo was last valued at £4.5 billion in an employee share sale in October 2024, to investors including Singapore's sovereign wealth fund GIC and StepStone Group.

Additional Information

($1 = 0.7547 pounds)

(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Kirsten Donovan)

Key Takeaways

  • Nubank, the Sao Paulo–based fintech listed on the NYSE with a ≈ $65.5 billion market cap, is exploring a potential combination with Monzo at an £8–£10 billion valuation (en.wikipedia.org).
  • Monzo’s board is weighing an alternative strategy: a new funding round valuing the bank at over £8 billion, with proceeds intended to support its mainland European expansion (monzo.com).
  • Monzo achieved strong financial performance: for the year ended March 31 2026, revenue rose to £1.7 billion, adjusted profit before tax reached £172.6 million, and gross profit exceeded £1 billion for the first time (monzo.com).

References

Frequently Asked Questions

What is the reported valuation of Monzo in the Nubank talks?
Monzo could be valued between £8 billion and £10 billion in a potential acquisition by Nubank.
What other options is Monzo considering besides a sale?
Monzo's board is also considering a new funding round, which could value the bank at over £8 billion.
How much profit did Monzo make in the last reported year?
Monzo made a pretax profit of £87.3 million for the year ended March 31.
Who are some of Monzo's recent investors?
Monzo's recent investors include Singapore's sovereign wealth fund GIC and StepStone Group.
What is Nubank's current market capitalisation?
Nubank is listed on the New York Stock Exchange with a market capitalisation of about $65.5 billion.

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