The American private equity giant TPG is among a pack of investors which want to buy a stake in Monzo, the British-based digital bank.
The American private equity giant TPG is among a pack of investors which want to buy a stake in Monzo, the British-based digital bank.
Sky News has learnt that TPG is in preliminary discussions with advisers to Monzo about the purchase of a minority interest in the company following the collapse of its multibillion pound sale to Brazil’s Nu Holdings.
TPG joins Advent International – which Sky News revealed last weekend was also keen on a deal – among Monzo’s suitors.
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Formerly known as Texas Pacific Group, the firm is an experienced investor in the UK fintech sector, having backed Tide just over a year ago.
The asset management group DE Shaw has also been suggested by bankers as a potentially interested party.
Monzo is exploring the sale of a stake to private equity firms or other institutional investors which would probably value it at £8bn or more.
Sky News revealed last weekend that Monzo was in talks with Nubank’s parent about a takeover which could have valued it at up to £10bn.
After Nu Holdings’ shares slumped by a tenth on the back of the news, the New York-listed company said it had decided not to pursue an offer.
Its withdrawal was greeted with relief in some quarters because the prospect of Monzo being acquired by an overseas competitor sparked concern about another British tech champion losing its independence.
Monzo has amassed a customer base which recently surpassed 16 million, having been founded just over a decade ago.
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The company was last valued at £4.5bn in a secondary share sale conducted in October 2024, with its value having risen significantly during the ensuing two years.
In its most recent annual financial results, the company reported a 39% surge in revenue to £1.7bn, with adjusted pre-tax profit 20% higher at £172.6m.
Morgan Stanley is advising Monzo on the private equity discussions.
TPG and Monzo declined to comment, while DE Shaw has been contacted for comment.
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