UK digital bank Monzo has reportedly lined up Morgan Stanley to pitch the company to investors ahead of a potential IPO in the first half of next year.
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People close to the company told Sky News that bankers would be formally hired to work on the listing within months, with Morgan Stanley now expected to be handed a key role on the deal.
The news comes as Monzo marks its 10th anniversary this year. It now serves over 11 million personal customers — that’s 1 in 5 UK adults — and more than 600,000 business customers, or 1 in 9 UK businesses.
The company is believed to be eyeing a £6-£7 billion valuation for a listing in either London or New York.
In October last year, Monzo offered employees the opportunity to sell part of their stakes in the digital bank through a secondary sale that saw its valuation hit £4.5 billion.
