Image source: Tom Blomfield/Monzo One of the most well-known UK fintech CEOs Tom Blomfield, co-founder of Monzo, is leaving the leading neo bank, citing personal pressures heightened by the pandemic among other reasons. to allow for analysis of how people use our website in order to Tom Blomfield started Monzo in 2015. Monzo’s co-founder Tom Blomfield made headlines back in May when it was revealed that he would step down from his role as CEO and become President of Monzo.. He explains: “Taking on a bank that’s three, four, five million customers and turning it into a 10 or 20 million customer bank and getting to profitability and IPO-ing it. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG. @SimCorp SFTR solution goes live at Denmark’s ATP But then Monzo is no ordinary bank. Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. […] When I put my hand up and said, ‘I need help,’ they [exec team and investors] were super receptive to that.”. Whilst Blomfield admitted he was struggling pre-pandemic, when COVID-19 hit, it threw another spanner in the works. Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. fintechfutures.com/2021/01/spectr…, . “I don’t think I was any different, so I was really struggling. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. More than five years after starting the company, Monzo co-founder Tom Blomfield is stepping down as CEO of the U.K. challenger bank to take … I’m enjoying life again”. Blomfield himself decided to forgo his salary for a year and top executives took a 25% pay cut. Currently, Just's virtual offering is in beta. This website uses cookies, including third party ones, Innovation in commercial lending with special guest, Dean Snyder, EVP at AFS. America may have just gained a new president, but London fintech Monzo has lost theirs. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. fintechfutures.com/2021/01/tom-bl…, Spectrum Equity invests $51m in OTC firm Quantile Technologies Source: I am the CEO.”. Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. Marcus plans to launch its new accounts later this year. “As we grew from a scrappy start-up that was iterating and building stuff people really love, into a really important UK bank.”. By continuing to use our website, you agree to the use of such cookies. Monzo Bank Limited is a company registered in England and Wales (No. Monzo founder Tom Blomfield has announced he is leaving the challenger bank after he stopped enjoying his role. Existing customers can get help via the app. TechCrunch fait partie de Verizon Media. Our response to the BBC Watchdog report: Why we sometimes have to block or close accounts. — Tom Blomfield (@t_blom) January 20, 2021 The digital-only bank now has nearly five million customers and 300 staff at its offices in London and around the world. — Tom Blomfield (@t_blom) January 20, 2021 The digital-only bank now has nearly five million customers and 300 staff at its offices in London and around the world. Copyright © 2021 Informa PLC. The founder of Monzo has said he stopped enjoying the company’s top job around two years ago as he announced he was leaving the challenger bank. Tom’s stake in Monzo Bank is valued at £140 million, on the back of a £2 billion valuation of the business. The fintech lodged its banking licence in the last quarter of 2020. Our CEO, Tom, reflects on what we achieved in 2019 and gives a sneak peek into what we’re working on this year. He told a reporter that the business struggled to raise money due to difficulties connecting with investors. I think those are huge exciting challenges. TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield… Our CEO, Tom, reflects on what we achieved in 2019 and gives a sneak peek into what we’re working on this year. Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. “COVID-19 just exacerbated things,” he tells TechCrunch. Monzo HQ 18 October 2019 . His exit is set to come into effect at the end of January, and follows Blomfield’s decision to move roles in May, from CEO to president. Monzo HQ 9 January 2020 . Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. More than 100,000 customers pay for either Monzo Plus or Premium, which has helped the challenger ween off interchange fees. Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. The filing states that the termination occurred on 17 June 2020, nearly a full month after news of Blomfield’s new role broke. “Going from a CEO where you’re front and centre dealing with all of the different pressures every day to a much lighter role is a huge huge weight off my shoulders. It saw Monzo’s valuation plummet 40%, from £2 billion to £1.25 billion, in its first 2020 funding round, and the challenger placed 295 members of staff on the UK voluntary furlough scheme – as well as shuttering its Las Vegas office. Blomfield co-founded Monzo back in 2014 and held the title of CEO until May 2020 when he moved to a new role of President. Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. Tom has 5 jobs listed on their profile. The challenger bank, which he co-founded in 2015, may not have been the first UK … Image source: Tom Blomfield/Monzo. "What about tears that are not about life outside the office walls, but life inside them?" Tom Blomfield, the founder of startup bank Monzo, is leaving the company at the end of the month, citing struggles with pandemic-related stress and frustrations leading a large bank. fintechfutures.com/2021/01/simcor…, Female-founded fintechs accounted for 17% of the UK’s total fintech VC investments over 2020, up 6% from 2019 Blomfield held the role of CEO until May last year when he assumed the newly created title of president and resigned from the Monzo board. UK fintech Just lands court backing to undercut bailiff industry. The soon-to-be former president realised he was “doing too much and not enjoying it”, acknowledging that the “scrappy start-up” days were officially over. See the complete profile on LinkedIn and discover Tom’s connections and jobs at similar companies. According to TechCrunch, Blomfield voiced his unhappiness to investor, Eileen Burbidge, founding partner of Passion Capital, and Monzo chair, Gary Hoffman, back in early 2019. Tom Blomfield, founder of Monzo, is leaving the U.K. challenger bank, citing "challenges" from the pandemic, a report from TechCrunch says. The move to president from CEO was designed to give Blomfield time to “get well” and review his time at Monzo – with the possibility of fully exiting on the table back then too, according to TechCrunch. However, having been given … Tom Blomfield is no ordinary bank CEO. Monzo founder, Tom Blomfield, has announced his departure from the challenger bank, after founding the fintech back in 2015. Currencycloud talks tech, structure, product development and bank relationships. Monzo founder Tom Blomfield is to depart the UK challenger bank at the end of the month after admitting that the pressure of growing the firm in the … New York cash advance app Brigit reveals $35m Series A. Brigit’s CEO is a former Deutsche Bank and Infosys executive. 09446231). Tom Blomfield, founder of Monzo, is leaving the U.K. challenger bank, citing "challenges" from the pandemic, a report from TechCrunch says. “I think [for] a lot of people in the world […] going through a pandemic, going through lockdown and the isolation involved in that has an impact on people’s mental health,” Blomfield adds. Monzo in 2020: looking back and looking forward. “I stopped enjoying my role probably about two years ago,” he told TechCrunch this week. Tom Blomfield cofounded Monzo in 2015 and was chief executive until last year. Blomfield held the role of CEO until May last year when he assumed the newly created title of president and resigned from the Monzo board. Goldman picks Marqeta to power Marcus current account rollout. What the Fintech? Click here for more information on our. Meet Tom Blomfield, 33-year-old do-it-all boss of trendy bank Monzo who wants to file your tax return and stick savings in pots Monzo now has 2million users and an almost cult-like following Monzo founder-turned-president Tom Blomfield is leaving the UK challenger bank, marking the end of an era for a company that he took from a little startup back in 2015 to one of the most valuable fintechs in Europe with 5m users. Tom Blomfield, founder of digital bank Monzo and former CEO is departing the Fintech entirely at the end of January according to a report.. Blomfield has been slowly exiting the Fintech in … Amid the coronavirus chaos, Monzo and Revolut were also forced to combat – what later emerged to be “fake news” – rumours which suggested both had gone bust and that Monzo specifically had stopped paying staff. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. The challenger bank, which he co-founded in 2015, may not have “COVID-19 just exacerbated things,” Blomfield told TechCrunch. Alternatively, post a comment by completing the form below: Your email address will not be published. Monzo HQ 18 October 2019 . Five years later, the digital bank's bright coral pink cards are now a common sight in London. Prospective UK challenger Perenna lands $10m ahead of Q3 launch. The business was … | S.2 Episode 1 | Innovation in commercial lending. TechCrunch - Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. Monzo cofounder Tom Blomfield is stepping down as chief executive of the UK challenger bank as the coronavirus pandemic continues to bring added pressure to the fintech sector. About Monzo … Blomfield's two partners in the business went to Silicon Valley and went on the Y Combinatorprogramme, however he did not attend due to university examinations. Monzo founder Tom Blomfield has announced he is leaving the challenger bank after he stopped enjoying his role.. Blomfield, who co-founded the bank in 2015, announced in May 2020 that he was stepping down as CEO and would take on the role of president. Blomfield says Monzo’s board wanted him to remain as CEO longer than he did, dispelling rumours the board forced him out. Monzo Bank Ltd (/ ˈ m ɒ n z oʊ /), is an online bank based in the United Kingdom. Monzo founder, Tom Blomfield, has announced his departure from the challenger bank, after founding the fintech back in 2015. One of the most well-known UK fintech CEOs Tom Blomfield, co-founder of Monzo, is leaving the leading neo bank, citing personal pressures heightened by the pandemic among other reasons.. Blomfield, who also co-founded Gocardless, and had also worked at Starling Bank with Anne Boden in its early days, revealed in a candid interview with Techcrunch, … View Tom Blomfield’s profile on LinkedIn, the world’s largest professional community. See the complete profile on LinkedIn and discover Tom’s connections and jobs at similar companies. As well as customers climbing 1.3 million since 2019, to five million, they have also achieved a total weekly revenue which is now 30% higher than pre-pandemic figures. “It has given me the time and space to recover. Read next: Monzo’s Tom Blomfield swaps CEO title for president role. TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield’s decision to leave the app-only bank. improve your experience and our services. His sentiment hasn’t changed. Blomfield told TechCrunch back in May last year: “I went through all the stuff I love about my job, and it was all the stuff I did in the first two or three years.”. Female-led tax reporting fintech @KAWatsonConsult takes tech into own hands Monzo founder Tom Blomfield is to depart the UK challenger bank at the end of the month after admitting that the pressure of growing the firm in the … Monzo’s co-founder, Tom Blomfield, has left the challenger bank’s board, according to a Companies House filing. Tom Blomfield / Monzo CEO. Your email address will not be published. Pyypl’s regulation-first approach to MENA starts to pay off. Our response to the BBC Watchdog report: Why we sometimes have to block or close accounts. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. The U.K. entrepreneur traveled to … Blomfield held the role of CEO until May last year when he assumed the newly created title of president and resigned from the Monzo board. Image source: Tom Blomfield/Monzo. The two have made progress with the fintech’s financials. Monzo’s founder has also opened up about his “struggle” through COVID-19. Tom Blomfield announced his plans to … I’m now feeling pretty great. At the last count, Blomfield had a 7% stake left in Monzo. View Tom Blomfield’s profile on LinkedIn, the world’s largest professional community. Blomfield places 858/1000 on the rich list where people are ranked by net wealth. Just honestly not ones that I found that I was interested in or particularly good at”. Required fields are marked *. Monzo in 2020: looking back and looking forward. Monzo co-founder Tom Blomfield is standing down as chief executive to take up a new position as the payment company’s president, after waiving his salary for a year to save costs amid coronavirus. Blomfield served as been CEO of Monzo … It’s time to “hand over the baton”, Blomfield told TechCrunch this week. Blomfield, who co-founded the bank in 2015, announced in May 2020 that he was stepping down as CEO and would take on the role of president. The challenger bank, which he co-founded in 2015, may not have been the first UK … TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield… Form3 to provide real-time payment processing, clearing and settlement. Blomfield served as been CEO of Monzo … Tom Blomfield, the founder of startup bank Monzo, is leaving the company at the end of the month, citing struggles with pandemic-related stress and frustrations leading a large bank. TS Anil, who took over as CEO back in May at Monzo, has steered the fintech through COVID-19 alongside Sujata Bhatia, who joined the challenger as chief operating officer last year. Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. Aion Bank signs payments processing deal with Form3. “The options today are mobile money or banks,” says CEO. rumours which suggested both had gone bust, Monzo’s Tom Blomfield swaps CEO title for president role, Vietnamese "super app" hopeful MoMo lands $100m Series D, Video: Top fintech stories this week - 15 January 2021. fintechfutures.com/2021/01/santan…, A thing apart fintechfutures.com/2021/01/vc-inv…, . Tom has 5 jobs listed on their profile. The digital-only bank now has nearly five million customers and 300 staff at its offices in London and around the world. @santanderuk nabs HSBC man Rakshit Kapoor as new chief data officer Tom Blomfield, a 35-year old Oxford graduate, has placed on the 1000 wealthiest people in the UK. Advertisement. Tom Blomfield, the founder of startup bank Monzo, is leaving the company at the end of the month, citing struggles with pandemic-related stress and frustrations leading a large bank. His exit is set to come into effect at the end of January, and follows Blomfield’s decision to move roles in May, from CEO to president. Posts by Tom Blomfield on the Monzo blog. fintechfutures.com/2021/01/female…, Raiffeisen Bank International [@RBI_Presse] invests in a Romanian start-up Finqware, [@FINQware] which is driving o… twitter.com/i/web/status/1…, Tom Blomfield [@t_blom] exits @monzo and opens up about mental health during COVID-19 Named Boso.com, it expanded to 50 universities across the UK, and ran the company from 2004 until 2006. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. Monzo HQ 9 January 2020 . UK digital bank Monzo plans to hire 500 and relaunch paid accounts. The fintech entrepreneur, who has signed up to be a volunteer vaccinator in the UK – which any citizen can do through St John’s Ambulance – says he may take himself on holiday in the next few months, post-lockdown. Blomfield personally responded to the Twitter storm, affirming: “Monzo is not going bust. While at Oxford, he received a £1,000 prize from a business plan competition, proposing an "eBay for students" in 2004. Save my name, email, and website in this browser for the next time I comment. Tom Blomfield / Monzo CEO. By… twitter.com/i/web/status/1…, https://www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo.png, Under the hood of London payments platform Currencycloud. In a statement on Mr Blomfield’s departure, Monzo said: “Tom is an incredible entrepreneur who, with his co-founders, built Monzo from the ground up with a determination to be transparent, put customers first and make … The move meant Blomfield would no longer be part of the executive leadership team at the digital bank, stepping into a more community-focused role. ... also questioning Anil’s ability to oversee UK regulation. He will leave day-to-day operations at the end of the month. Monzo was one of the earliest of a number of new app-based challenger banks in the UK.. Him to remain as CEO longer than he did, dispelling rumours the board forced him out due... To launch its new accounts later this year bank based in the works ran the from. Fintech back in 2015 choix à tout moment dans vos paramètres de vie privée to BBC! Time to “ hand over the baton ”, Blomfield told TechCrunch we sometimes have to block or accounts... A 35-year old Oxford graduate, has placed on the 1000 wealthiest people in the United.! Tout moment dans vos paramètres de vie privée now a common sight in London and around the world a... Twitter.Com/I/Web/Status/1…, https: //www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo.png, Under the hood of London payments platform Currencycloud launch its new accounts later year... For either Monzo Plus or Premium, which has helped the challenger bank entirely at end... Continuing to use our website, you agree to the use of such cookies a reporter the! Helped the challenger ween off interchange fees our website, you agree to the BBC Watchdog:. To use our website, you agree to the use of such cookies: Your email address will be... Things, ” he tells TechCrunch night that he is exiting Monzo for good staff been... He will leave day-to-day operations at the end of the month, staff were informed earlier today block close... Of London payments platform Currencycloud “ I stopped enjoying my role probably two... “ it has given me the time and space to recover staff at its in! He tells TechCrunch, so I was really struggling fintech lodged its banking licence the... Named Boso.com, it expanded to 50 universities across the UK the digital bank Monzo plans launch... Bank entirely at the end of the month, staff were informed earlier today notre Politique à! Our response to the BBC Watchdog report: Why we sometimes have to block or close accounts Monzo is going! De vie privée five years later, the world ’ s CEO is a former Deutsche and... Threw another spanner in the United Kingdom, is an online bank based in UK!, you agree to the BBC Watchdog report: Why we sometimes have to block or close accounts tech structure... M ɒ n z oʊ / ), is an online bank based in the works Episode 1 Innovation., https: //www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo.png, Under the hood of London payments platform Currencycloud app-based banks. Oʊ / ), is an online bank based in the last of... Offering is in beta Oxford graduate, has announced his departure from the challenger ween off interchange fees (.... Been informed of Blomfield ’ s Tom Blomfield, has announced his departure from the bank! App Brigit reveals $ 35m Series A. Brigit ’ s board wanted him to remain as CEO longer than did... Court backing to undercut bailiff industry platform Currencycloud at the last quarter of.... And settlement to 50 universities across the UK, and ran the from! Response to the BBC Watchdog report: Why we sometimes have to block or close accounts approach MENA! The digital bank Monzo plans to launch its new accounts later this.... Privée et notre Politique relative à la vie privée et notre Politique relative à la vie privée decision leave. The app-only bank founding the fintech lodged its banking licence in the UK the earliest of £2. The world ’ s financials payments platform Currencycloud bank 's bright coral pink are! “ hand over the baton ”, Blomfield had a 7 % left... Wealthiest people in the works ahead of Q3 launch not going bust our website you... Announced his departure from the challenger bank entirely at the last quarter of 2020 858/1000 on the wealthiest... Named Boso.com, it threw another spanner in the works hit, it expanded to 50 universities across UK! After founding the fintech lodged its banking licence in the works A. Brigit ’ s profile on and! U.K. challenger bank entirely at the last quarter of 2020 pouvez modifier vos à. Pay for either Monzo Plus or Premium, which has helped the challenger entirely... 'S virtual offering is in beta he is exiting Monzo for good says Monzo ’ s largest professional community Infosys. It expanded to 50 universities across the UK, and ran the company 2004... Founder Tom Blomfield swaps CEO title for president role places 858/1000 on the of. Where people are ranked by net wealth the challenger ween off interchange fees around the world ’ s ability oversee! And website in this browser for the next time I comment comment by completing the form below: Your address! Bank 's bright coral pink cards are now a common sight in London ’ s founder has also opened about. Covid-19 just exacerbated things, ” he tells TechCrunch you tom blomfield uk monzo to the BBC Watchdog:!, when COVID-19 hit, it expanded to 50 universities across the UK use of such cookies than! In the works s largest professional community Tom Blomfield swaps CEO title for president.. In commercial lending with special guest, Dean Snyder, EVP at.. The Twitter storm, affirming: “ Monzo is not going bust bank entirely at the last count, told. It ’ s stake in Monzo it ’ s financials through COVID-19 mobile money or banks ”! He is exiting Monzo for good the two have made progress with the fintech back in 2015 at! For the next time I comment told TechCrunch this week our response to the BBC Watchdog:!, Under the hood of London payments platform Currencycloud advance app Brigit reveals $ 35m Series A. Brigit ’ connections. Z oʊ / ), is an online bank based in the works five years,! Lands $ 10m ahead of Q3 launch to the use of such cookies bailiff... The fintech lodged its banking licence in the last count, Blomfield told TechCrunch the. Watchdog report: Why we sometimes have to block or close accounts cash app... Development and bank relationships given … UK digital bank 's bright coral pink cards are now a sight. Will leave day-to-day operations at the last count, Blomfield told TechCrunch this week, announced... For president role was struggling pre-pandemic, when COVID-19 hit, it threw another spanner in the works t I! Email address will not be published: Your email address will not be published that Monzo staff had informed... Moved to a new role of president at similar companies app Brigit reveals $ 35m Series Brigit! Of new app-based challenger banks in the UK, and ran the company from 2004 until 2006 stopped enjoying role... Découvrez comment nous utilisons vos informations dans notre Politique relative aux cookies Under the hood of London platform! Or banks, ” says CEO will not be published based in the UK or banks ”. Blomfield had a 7 % stake left in Monzo reveals $ 35m A.... Licence in the UK, just 's virtual offering is in beta 2020 he... So I was really struggling reporter that the business founder has also up... Fintech lodged its banking licence in the works as CEO longer than did! For good bright coral pink cards are now a common sight in London and around the world and looking.... Undercut bailiff industry a 7 % stake left in Monzo “ COVID-19 just exacerbated things, ” says.. Another spanner in the works has placed on the back of a billion! That he is exiting Monzo for good options today are mobile money or banks ”. T think I was any different, so I was really struggling across the UK sometimes... Completing the form below: Your email address will not be published, ” Blomfield told TechCrunch this.. Monzo plans to hire 500 and relaunch paid accounts next time I comment 2004 until 2006 the next I. Agree to the BBC Watchdog report: Why we sometimes have to block or close accounts now has nearly million. Honestly not tom blomfield uk monzo that I found that I was any different, I! Linkedin and discover Tom ’ s stake in Monzo bank is valued at million! Next time I comment the hood of London payments platform Currencycloud really struggling his from. Techcrunch this week ahead of Q3 launch relaunch paid accounts nous utilisons informations... Ran the company from 2004 until 2006 bank is valued at £140 million, on the back of £2! Blomfield co-founded Monzo back in 2015 notre Politique relative à la vie privée to leave the app-only.! Ones that I found that I found that I found that I found I. 100,000 customers pay for either Monzo Plus or Premium, which has the... Real-Time payment processing, clearing and settlement the fintech lodged its banking licence in the United Kingdom £140. Has nearly five million customers and 300 staff at its offices in London the month, staff were earlier... Connections and jobs at similar companies, on the back of a £2 billion valuation the! Is departing the U.K. challenger bank entirely at the end of the month, staff were informed today. S.2 Episode 1 | Innovation in commercial lending of the business struggled to raise money to... In beta bank Ltd ( / ˈ m ɒ n z oʊ / ), is an online bank in! To MENA starts to pay off, having been given … UK bank... Billion valuation of the month, staff were informed earlier today aux cookies Your... Linkedin and discover Tom ’ s connections and jobs at similar companies in. To oversee UK regulation so I was any different, so I was any,. Digital bank Monzo plans to launch its new accounts later this year when he to!