Monzo Nabs a $5.2 Billion Valuation After Raising More Money

Monzo Bank Ltd. raised funds that valued the British startup at $5.2 billion, giving it more power to take on rival fintechs in new markets like the US.

The company raised an additional $190 million from existing investors as part of a so-called top-up round to the $430 million that Monzo raised earlier this year, according to a person familiar with the matter. Investors in this round included Capital G, Alphabet Inc.’s independent growth fund, as well as new investors like London-based venture capital firm Hedosophia, the person said, asking not to be identified discussing non-public information.

“The huge ...