Nubank’s owner is in talks to buy Monzo at up to £10bn
Monzo is in talks about a sale to Brazil’s Nu Holdings, the owner of Nubank. A deal could value the British digital bank at between £8bn and £10bn, Mark Kleinman reported for Sky News on Saturday.
The talks are at a relatively early stage, according to Sky News. Monzo has hired Morgan Stanley and Qatalyst to advise it, and the outline terms are under negotiation. A deal would likely be paid in cash and shares.
Nu has held discussions to buy Monzo, Bloomberg reported, citing people with knowledge of the matter. Monzo has also hired the law firm Slaughter and May, according to Bloomberg.
A sale or a new round
A sale to Nu is one of two main options for Monzo’s board and shareholders, a source close to the process told Sky News. The other is a new funding round at a valuation above £8bn, which would pay...
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