HSBC reportedly writes off remaining $5.8m stake in UK fintech Monese
WEB2 days ago · The banking giant acquired a minority interest in Monese for £35 million in 2022, as part of a strategic partnership to enhance its banking-as-a-service (BaaS) platform, later integrating the firm’s solution into its retail banking app.. However, a report by City AM indicates that HSBC has now “completely impaired” its remaining $5.86 million stake in Monese, citing recent filings.
UK payments firm Pockit in talks to buy Monese consumer arm, …
WEBSep 9, 2024 · British payments technology company Pockit is in talks to take control of UK challenger bank Monese’s consumer arm, two people familiar with the matter told Reuters.
HSBC writes off stake in former UK fintech darling Monese
WEB5 days ago · HBCYF. Monese was founded in 2015 and is based in London. HSBC has written off its holding in British fintech Monese just two years after investing $35m in the lossmaking Revolut rival once hailed as a potential “unicorn”. The banking giant “completely impaired” its remaining $5.86m stake in the nine-year-old company in March and April ...
HSBC Says Investment in British Banking Fintech Monese Is …
WEB4 days ago · October 1, 2024 at 4:30 AM EDT. Save. HSBC Holdings Plchas written off its stake in software company Monese Ltd., two years after investing $35 million in the UK fintech that had once been touted ...
HSBC-backed fintech Monese plots break-up amid mounting losses - Sky News
WEBApr 19, 2024 · Monese, which has two million customers, is working with Interpath Advisory on plans to split itself into two independent companies as it tries to break even, Sky News learns.
Monese founder to buy consumer arm in break-up - Sky News
WEBApr 29, 2024 · Monese founder to buy consumer arm in break-up. Norris Koppel will run Monese's consumer business with a new boss drafted in to run XYB under an announcement to be made on Tuesday, Sky News learns.
Major investor in HSBC-backed Monese writes off its ... - Tech.eu
WEBFeb 7, 2024 · Major investor in HSBC-backed Monese writes off its investment in money transfer app. Swedish VC firm Kinnevik has written off its investment in Monese but said there is “still significant value in the company", as Monese looks to raise fresh funds.
Fintech Monese seeks funding to sustain operations as losses …
WEBJan 2, 2024 · London-based fintech Monese has warned that its operations could be “severely affected” should it fail to secure future funding after its latest reports revealed heavy losses.
European neobank Monese nabs $35M from HSBC - TechCrunch
WEBSep 20, 2022 · Monese, the London-based fintech that provides digital banking and remittance services to consumers and businesses across Europe, has raised $35 million from global banking giant HSBC.
London fintech Monese warns on its future after losses widen
WEBJan 2, 2024 · The scale of the cash crunch facing London’s tech sector has been laid bare after City-based unicorn Monese warned that its future was under threat unless it could raise additional funds.