Nubank in Early-Stage Talks to Acquire Monzo in Up to £10 Billion Deal

[Nishant]

Brazil's Nubank is in early-stage talks with British digital bank Monzo about a potential acquisition that could value Monzo at between £8 billion and £10 billion ($10.60 billion to $13.25 billion), Reuters reported on Saturday, citing Sky News. The deal, if completed, would mark one of the most significant cross-border combinations in the digital banking industry, bringing together Latin America's largest fintech with one of Britain's most recognisable neobanks. Two options on the table. According to the report, an acquisition by Nubank is one of two options Monzo's board is currently exploring, citing a source close to the process. The other option is a new funding round expected to value Monzo at more than £8 billion, with proceeds earmarked for a mainland European expansion. Both Monzo and Nubank declined to comment on the report. Nubank, headquartered in Sao Paulo, is listed on the New York Stock Exchange with a market capitalisation of about $65.5 billion. The discussions signal a new phase of consolidation among scaled digital banks as they seek the size and geographic diversification needed to compete with legacy global banks. Monzo's strong numbers. London-based Monzo made a pretax profit of £87.3 million for the year ended March 31, up from £60.5 million a year earlier, according to its annual report. Revenue grew to £1.7 billion from £1.2 billion over the same period. The British bank was last valued at £4.5 billion in an employee share sale in October 2024, to investors including Singapore's sovereign wealth fund GIC and StepStone Group — meaning a £10 billion deal would more than double that valuation. Sources: Monzo in talks on sale to Nubank at about £10 billion valuation, Sky News reports | Reuters (https://wncy.com/2026/09/26/monzo-i...-about-10-billion-valuation-sky-news-reports/)