London-based FinTech app Monzo tops 13 million customers on the back of record growth

British digital bank Monzo today announced that it surpassed 13 million customers, as it progresses at pace with its ambition to build the one app customers turn to to manage their entire financial lives.

As Monzo marks its 10th anniversary, it now serves 12.5 million personal customers – that’s 1 in 5 UK adults – and more than 700,000 business customers or 1 in 8 UK businesses. The bank added c.1 million customers in the last quarter alone.

TS Anil, CEO of Monzo, said: “Monzo has achieved a rare feat – we’ve built a bank that customers love. And that love continues to power huge growth, with two-thirds of new sign-ups coming from word-of-mouth recommendations. From helping under 16s learn about money to supporting customers in their 90s and beyond, we’re here for every stage of our customers’ financial journey, with so many more game-changing products and features to come. It’s incredibly exciting to see Monzo Business also growing rapidly as Monzo becomes the bank of choice for SMEs.”

Monzo was founded in 2015 and now serves more than 13 million customers, allegedly making it the largest digital bank in the UK as well as the 7th largest UK bank by customer numbers. With a mission to “make money work for everyone“, Monzo is known for innovating industry-first features like the Gambling Block, Call Status, Added Security, Tax Pots and the 1p Saving Challenge.

Today’s announcement follows a promising performance from Monzo in FY2025 where revenues grew 48% to €1.3 billion and adjusted profit before tax surged to €130.6 million, up from €15.9 million. Since then, Monzo has welcomed over 300,000 new customers every month, with May and June the biggest months on record for new sign-ups.

Monzo has 650,000 customers with Under 16 accounts and more than 1,000 customers over the age of 90, with two-thirds of new sign-ups coming from word-of-mouth recommendations. Including Monzo’s 13 millionth customer, a woman in her 50s, who signed up through a referral.

Today, 40% of Monzo Business customers are women – more than double the UK average, where only 15% of SMEs are female-led. This points to Monzo’s potential appeal to female entrepreneurs looking to start, run and grow their businesses.

This latest milestone follows the launch of a series of products and features over the past 3 months, many of which are industry-firsts. These include:

• ETFs – 11 carefully curated Exchange Traded Funds, designed for customers who want more choice in their investing while keeping it simple and accessible for first-time investors.

• Home Insurance – a combined buildings and contents policy that allows homeowners to personalise their cover and change or cancel their policy at any time with no extra fees.

• Undo Payments – another industry-first security feature, which gives customers a customisable 10-60-second window to cancel a bank transfer if a mistake is made.

Today, customers can budget, save, borrow, invest, track their mortgage, consolidate their pensions and insure their home all within the Monzo app – with more on the horizon as per the company

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