United Kingdom

Monzo hits £1bn gross profit milestone as UK digital bank accelerates European expansion into Spain

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Monzo, the London-based digital bank, has achieved £1bn in gross profit for the first time and announced its third consecutive year of profitability with a 20% rise in adjusted profit before tax to £172.6m. The fintech is expanding aggressively across Europe, having launched in Ireland in April with 100k customers on the waitlist and announcing Spain as its next market with offices in Barcelona and Madrid. The bank recorded 3m new customers this year and saw business banking customers grow 45% to over 905k.

Adfin Secures $18M Series A to Expand AI-Powered Payment Automation Platform

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Adfin, a British fintech startup co-founded by Romanian engineer Ciprian Diaconasu, has raised $18 million in Series A funding led by Index Ventures. The platform helps businesses reduce payment delays, with clients seeing only 9% of invoices paid late compared to the 63% average in the UK. Total funding reached $30 million in under two years of operation.