UK’s Monzo used this pitch deck to close $24.3m in its series C round

ABOUT

Founded in 2015, Monzo is a UK-based banking app that allows users to spend, save, and manage their money all in one place. It operates a mobile app and provides users prepaid debit cards. Monzo claims to have over 4.81 million users.

In June this year, the fintech company closed £60 million (US$80 million) in a series G funding round from Y Combinator, General Catalyst, Accel, and Stripe, among others, at a £1.25 billion (US$1.67 billion) valuation.

One month later, the company reported US$149.5 million in annual post-tax loss in its 2020 accounts, up from the £47.1 million (US$63 million) it lost last year.

The company used this deck to close its series C funding.

Fundraising journey

• 2015: US$3.12 million series A funding from an undisclosed investor
• 2016: US$7.2 million series B round from Passion Capital
• Feb 2017: US$24.3 million series C round from Thrive Capital, Passion Capital, and Orange Digital Ventures
• Nov 2017: US$92.3 million series D round led by Goodwater Capital, with the participation of Passion Capital, Thrive Capital, Orange Digital Ventures, Stripe, and Michael Moritz
• 2018: US$110.5 million series E round led by General Catalyst and Accel, followed by existing investors Passion Capital, Goodwater Capital, Thrive Capital, Orange Digital Ventures, and Stripe
• 2019: US$143.5 million series F funding led by Y Combinator’s Continuity growth fund, followed by Latitude, General Catalyst, Stripe, Passion Capital, Thrive Capital, Goodwater Capital, Accel, and Orange Digital Ventures
• 2020: US$75.6 million series G funding led by Y Combinator, General Catalyst, Accel, Stripe, Goodwater Capital, Orange Digital Ventures, Thrive Capital, and Passion Capital. Reference Capital and Vanderbilt University joined as new investors.

How is the deck compelling?

• The deck begins with Monzo’s mission statement before going through the problems that the company aims to solve.
• It shows the background of why Monzo started its service and what it wants to offer.
• It gives a glimpse of the technology that it is using: machine learning and in-house software.
• To gain more trust from their investors-to-be, Monzo also showed their banking license.
• It indicates how Monzo planned to make money and what they would use the funding for.

SOURCE

Deck: Changecy