"The FT reports that tensions built between Anil and the board before October's somewhat unexpected announcement that former Google executive Diana Layfield would take over early next year. A key issue, apparently, was IPO timing. Anil pushed for an earlier listing than some directors wanted and signaled he might leave soon after, while board members sought more time to expand internationally and grow the company's valuation."
"Under Anil's leadership since 2020, Monzo reportedly tripled its customer base to 13 million and posted record £60.5 million pre-tax profits. But nearly all customers remain UK-based after the company's U.S. expansion stalled in 2021. We talked with Anil about this, too, during our sit-down. Now, Layfield, who spent nine years at Google and over a decade at Standard Chartered, will oversee Monzo's international strategy and guide the company toward its eventual public listing."
Tensions built between TS Anil and Monzo's board before October's announcement that Diana Layfield will take over early next year. A central dispute concerned IPO timing: Anil pushed for an earlier listing and signaled he might leave soon after, while board members wanted more time to expand internationally and grow valuation. Monzo was reportedly valued at $5.9 billion in an October 2024 secondary share sale backed by GIC and StepStone. Under Anil since 2020, Monzo tripled its customer base to 13 million and posted £60.5 million pre-tax profits. Nearly all customers remain UK-based after a stalled U.S. expansion in 2021. Layfield will oversee international strategy and guide the company toward an eventual public listing.
Read at TechCrunch
Unable to calculate read time
Collection
[
|
...
]