Nu Holdings, the parent of Brazilian digital bank Nubank, has held talks to acquire UK digital bank Monzo. A deal could value Monzo at around 8 billion to 10 billion ($10.6 billion to $13.3 billion), according to people familiar with the matter. Monzo is also weighing other options, including a new funding round. Nu Holdings shares were down 2.72% in premarket.
Monzo was last valued at about 4.5 billion through a 2024 secondary share sale. It now has more than 16 million customers, and it reported 1.7 billion of revenue in fiscal 2026, with deposits up 55% to 25.7 billion. It has hired Morgan Stanley (MS) and Slaughter & May to explore the potential deal. Nubank said it doesn’t comment on “rumors or speculation,” and Monzo declined to comment.
For Nubank, which has 135 million customers across Latin America and no presence in the UK or Europe, Monzo would be a direct entry point and would put it in head-to-head competition with Revolut. A sale would also deal another blow to the London Stock Exchange, as Monzo had been exploring an initial public offering.
