Press Release July 02, 2019

Y Combinator Continuity Leads £113 Million Investment in Monzo

Goodwin’s London and Silicon Valley Technology team recently advised Y Combinator’s Continuity growth fund as lead investor on a Series F investment of £113 million ($144 million) into Monzo Bank Limited, a digital mobile-only bank based in the United Kingdom focused on disrupting the traditional banking sector. A number of new and existing investors also participated in the funding round including Latitude, General Catalyst, Stripe, Passion Capital, Thrive, Goodwater, Accel, and Orange Digital Ventures.

Launched in March 2005, Y Combinator is an American seed accelerator which provides seed funding for startups. Y Combinator Continuity is an investment fund dedicated to supporting founders as they scale their companies. The fund’s primary goal is to support YC alumni companies by investing in their subsequent funding rounds.

The Goodwin team was led by partners Craig Schmitz and Graham Defries, associates Kenny Walker-Durrant and Michael Grainger and included partners Gretchen Scott and William Stern, counsel Glynn Barwick, associates Katie Leah, Priya Patel and Benjamin Chatzkelson, and trainee Rachel Thurbon.

For additional details on the funding, please read Monzo’s post.