Fast Track 100

When Norris Koppel, 41, moved to the UK from Estonia with no credit history or utility bills proving his address, he was unable to open a bank account, leading to difficulties receiving his salary and renting an apartment. This frustrating experience led him to set up Monese, a smartphone-only banking service that allows users to sign up for a UK or European current account in two minutes without an address. Tapping into Europe’s internationally mobile society, the app, which is available in 11 languages, has more than 650,000 account holders and has since expanded into 20 countries internationally, opening offices in Tallinn, Lisbon and Berlin; and it recently also launched a business account. In September, investors including PayPal, and venture capital firms Kinnevik and Augmentum, which have backed Babylon Health and Zopa respectively, took part in a $60m round to support the hiring of a further 100 staff.

This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.

Company details
ActivityMobile banking service
LocationCentral London

If applicable:

* supplied by company † annualised figure