Digital bank Monzo is in early discussions concerning a potential sale to Brazilian fintech giant Nubank. This development could impact the British firm's previous aspirations for a listing on the London Stock Exchange.
US-listed Nu Holdings, Nubank's parent company, has reportedly approached the UK fintech. Monzo is understood to have engaged bankers at Morgan Stanley and Qatalyst to advise on the potential transaction. The talks between the two companies were initially reported by Sky News.
A potential sale could be valued between £8bn and £10bn. Monzo was last valued at £4.5bn in October 2024 following an employee secondary share sale. Nubank, which launched its IPO on the New York Stock Exchange at the end of 2022, currently holds a valuation of $65.5bn (£49.4bn).
Nubank operates with licences across the Americas and has a limited European presence, primarily a tech and engineering facility in Berlin. A deal with Monzo could provide Nubank with a UK banking licence and access to Monzo's 16 million retail and business customers in Britain. Earlier this year, Monzo confirmed it had shifted its focus to Europe, with Spain and Ireland expected to be initial areas of expansion, after ditching US expansion plans.
In May 2025, Monzo was reportedly preparing bankers for a potential £6bn IPO. Monzo declined to comment on the current discussions. A spokesperson for Nubank stated that the company does not comment on rumours or speculation, reaffirming a commitment to clear communication on significant business matters.