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Monzo

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Monzo is expected to close a deal for an additional £70-80 million. The final amount raised hasn’t been confirmed yet, but according to the Financial Times, the value of the company might plummet nearly 40%. No profit yet? As most neobanks currently are not earning any profit, they are completely dependent on capital investments to keep on working. According to their annual report for their 2019 financial year, Monzo loss for the year is over…