Monzo key statistics
- Currently, Monzo has 5.8 million users, and the majority of them are situated in the UK.
- Monzo bank valued at £3.7 billion in 2021
- The average deposit in a Monzo account is approximately £1,400 in 2022.
- Users under 34 make up 72% of Monzo's total client base.
- In 2022, Monzo's user deposits reached GBP 4 billion.
- 1,879 people work for Monzo as of October 2022.
- In 2022, Monzo's gross lending exceeds GBP 259 million.
- One million new users join Monzo, on average, every year.
- Monzo generated £79 million in revenue in 2020, and reportedly doubled that figure in 2021
Source: Statista
Monzo Overview (About Company)
Monzo is one of the most popular banking apps, especially in the United Kingdom. Join us as we're going to look at some key data about Monzo as a company.
Monzo Valuation
Monzo valuation hit £3.7 billion in 2021.

The table below shows you the 5 valuations at Monzo throughout 2017-2021.
Note how Monzo's valuation went higher with each new year. The current all-time high is in 2021, at £3.7 billion.
Source: FinTech Futures, FT 1, FT 2
Monzo Revenue
Monzo’s revenue rose 90%, hitting £270 million as of June 2022.

In 2017, Monzo's revenue was of £3 million. Not that it isn't a high number, but if you look at 2022, you can see the huge £270 million in revenue.
This only shows how much Monzo grew as a business!
What is Monzo’s transaction volume throughout the years?
Latest data shows that £28.70 million went through Monzo throughout 2022.

The table below shows information regarding the past years:
See how in 2019, it used to be just £4.25 billion that was moved through Monzo, and how much the number grew in the next 3 years.
How much % does Monzo make out of their transaction volume?
In other words, comparing Monzo’s revenue with their transaction volume — how much value do they capture out of the money that their users are transacting?

Monzo kept 0.94% of the total transactions in 2022. That is over £2.69 million that remained for Monzo.
Looking at the four years in the table above, you can see how 2019 had the highest percentage of gain, with 1.60% of the total transactions remaining within Monzo.
Monzo Gross Lending (Loans)
Monzo gross lending (loan) reached £259 million in 2022.
Source: Statista
What is Monzo's users’ total deposit throughout the years?
Monzo’s user deposits have increased year-on-year, reaching £4.44 billion in 2022.
With each new year, there's so much more money that has been deposited.
Source: Statista
Monzo users’ average deposit
The money deposited by Monzo users on average is £1,400 in 2022.

Pretty interesting seeing how this the average Monzo deposit was of £142 in 2018, and then seeing how much it was lifted in 2022. It reached £,1400 in 2022!
Source: Sifted
How much did Monzo's users spend throughout the years?
A total of £24 billion were spent by Monzo users in 2022.

This refers to much money users paid using their Monzo Mastercards making payments.
As all of the numbers shown above were pumped up a lot throughout these years, you would also expect the spent money to increase — and you would be right!
See how every year at Monzo had a couple more billions spent through the app.
Source: Statista
How much did Monzo's users spend in 2022? (Second, Minute, Hour, Day, Week, Month & Year)
Monzo users spent on average £805 in 2022 every second.
This data helps us understand how much money goes through Monzo, and it doesn't just show Monzo's statistics, but also the whole eBanking industry's stats.
Look at that! With each new second in 2022, there were £805 spent through Monzo.
Every minute in 2022, people spent a total of £48,333 using their Monzo cards.
Source: Statista
How many users are actively using the Monzo app for transactions?
Monzo total active users in 2022 are 5.8 million active users.

The 2019-2020 period saw a big expansion in users at Monzo. Though, in the 2021-2022 period, there have been only 0.8 million new active users.
Source: Statista
How many new users joined Monzo?
About 1 million new users joined Monzo banking in 2022.

The rate of new users joining Monzo isn't skyrocketing, unlike the previous numbers that we've looked at. Though, these numbers are still very impressive.
On average, 1 million new users join Monzo every year.
Source: Statista
How many new users joined Monzo in 2022?
Every minute in 2022, two new users joined Monzo.

This is yet another fun table to look at. Check out how the number increases as we expand the time interval for new Monzo users in 2022.
Source: Statista
Monzo Funding
Monzo has raised a total of $1.1 billion in funding over 21 rounds. Their latest funding was raised on Feb 8, 2022, from a Series H round.
Above you can see a list of all the 21 rounds of investments at Monzo.
Source: Crunchbase
Monzo Investors
Monzo is funded by 37 investors. Coatue and Goodwater Capital are the most recent investors.
Below is a list of all the 37 investors at Monzo.
Did you see that? Tencent, Stripe, and even Y Combinator invested in Monzo, which really shows how much potential the app had from its early days.
This data also shows how many big players saw a big prize in Monzo.
Source: Crunchbase
How many people work at Monzo?
Monzo has 1,879 employees in 2022.
Look at how much the numbers go up after 2019!

In 2019, there were 437 people working at Monzo, and every year after that, they were at least 1,100 people employed.
Source: Statista
How many office locations does Monzo have?
Monzo currently has two offices. A headquarter in the United Kingdom and its branch support in the United States.
As Monzo will grow as a company, there are most likely going to be new offices in different locations across the globe.
Source: Craft
How many countries does Monzo operate in? (Countries Monzo is available)
Monzo is available around the world. You can use the Monzo card anywhere in the world, for free.
Wherever you can pay via Mastercard, Monzo is guaranteed to be there for you.
Source: Monzo
How does Monzo make money?
Monzo makes money through three main revenue streams:
- interchange from payments
- banking services
- interest revenue

Source: Forex
What is Monzo's digital banking market share in the United Kingdom?
Monzo held 0.03% of the domestic market share and was the 76th-largest bank in the United Kingdom in 2021.
Speaking of which, you might be interested in PayPal and Revolut's yearly stats.
Source: The Banks
What is Monzo market strength in the digital banking industry in the United States?
In the UK and other nations, including the US, Monzo has witnessed a consistently favorable percentage of new customers.
As of 2019, Monzo has made intentions to penetrate the US market as well as those of other countries. The rate at which users download the Monzo mobile app can be used to assess Monzo's market position outside of the UK.
This demonstrates that Monzo Bank's strategy to increase its reputation globally is succeeding.
Who are Monzo users? (users demography)
Monzo user’s gender distribution
Users of Monzo are split between 58.23% men and 41.77% women.

We can note that Monzo has a pretty fair ratio of males and females using their services. It's almost close to a 50/50 situation.
Source: Similar Web
Monzo user’s age distribution
The majority of Monzo users are between the ages of 25 and 34.

After that, the 18-24 age grup is the most popular one for Monzo's users.
Source: Similar Web
Monzo users by country
The United Kingdom users remain top of the Monzo user base. At the end of the day, Monzo was one of the very first online baking apps in the UK.

The UK has a 78.22% share of Monzo's total users, with over 4.5M all-time users.
After the United Kingdom, there's the United States, having a share of only 3.06% of the total users. As you can see, Monzo is pretty much based in the UK
Source: Similar Web
How many app downloads did Monzo get in 2022?
- Monzo has more than 5 million Android app downloads
- Monzo has more than 709,000 iOS app downloads
By look at this data, we can note that most of Monzo's users are on Android.
Source: Play Google, Apps Apple
Monzo top marketing channels
The top traffic source to Monzo is search traffic, driving 48.78% followed by direct with 43.23% of traffic.

Source: Similar Web
Social media traffic to Monzo

Monzo gets most of its social media traffic through LinkedIn (27.10%) and Twitter (24.28%). The table below shows all values:
Some may expect YouTube to be Monzo's #1 traffic driver via ads, but though, that is not really the case!
In fact, Reddit is even another popular traffic driver for Monzo on social media.
Source: Similar Web
What is monzo.com traffic by country and device used?
European Monzo users prefer their mobile devices, while Asian users prefer their desktop device.

For instance, French Monzo users are 99.59% on mobile, while Indian users are 91.64% on desktop.
Source: Semrush
What is the average time spent by users on Monzo App?
The average time spent by Monzo app users is 2 minutes and 30 seconds.

Source: Semrush
What other products does Monzo offer to customers?
The products offered by Monzo can be divided into three categories: personal loans, business loans, and consumer banking. According to the customer's membership package, they receive several features.
- Consumer banking: Customers receive a debit card, checking account, and other services like immediate notifications, no overdraft fees, and peer-to-peer payments. Two paid plans from Monzo are available for £5 or £15 a month, and they include premium cards as well as services like checking account interest, insurance, virtual cards, and the opportunity to add other cards to Monzo's app for spending tracking.
- Business banking: In addition to the standard Monzo features, business customers now receive free UK bank transfers and digital receipts. Business customers can integrate their accounting software with Monzo, receive virtual cards, manage multiple users' accounts, and handle invoices for £5 per month.
- Personal lending: Monzo provides overdrafts up to £2000 and personal loans at an APR of 8.9%. It just began providing Monzo Flex, a BNPL product, as a part of its lending portfolio.
Source: Sacra