British digital bank Monzo is in talks to sell itself to Brazil's Nubank at up to £10bn valuation

From the Newshound archive · first published 26 September 2026 · last updated 28 September 2026.

Monzo has hired bankers at Morgan Stanley and Qatalyst to assess a potential sale to Brazilian fintech giant Nubank — an outcome that would rule out a London Stock Exchange listing. The British digital bank posted a pretax profit of £87.3m in its most recent annual results and was valued at just £4.5bn as recently as October 2024, meaning the proposed transaction would be worth more than double that figure. Monzo's board is also weighing an alternative path: raising a fresh round of capital at a valuation exceeding £8bn to fund expansion across mainland Europe.

A tie-up with Nubank would hand the São Paulo-headquartered group a UK banking licence and access to Monzo's 16 million retail and business customers.

Nubank has a market capitalisation of $65.5bn, and completing the acquisition would bring it into direct competition with Revolut, which has been aggressively expanding into Latin America.

Monzo pulled back from its US expansion last year and had identified Spain and Ireland as its next European targets before news of the sale talks emerged.