Monument Bank, a UK-based digital bank catering to affluent professionals and property investors, is in discussions to raise £200 million in private funding ahead of a planned Nasdaq IPO. The move highlights its ambitions to scale operations, expand services, and establish itself as a key player in the digital banking sector.
How will it use the investment?
This funding round is critical for Monument Bank’s next phase of growth. The bank has already secured a UK banking license and built a client base, but additional capital will support product development and international expansion. Raising this amount would also signal strong investor confidence in its business model, which prioritises profitable lending over high-volume, low-margin transactions seen in many other fintech firms.
A digital bank for affluent customers
Founded in 2020 by Mintoo Bhandari, a finance and investment professional with experience in private equity, asset management, and banking. He has held leadership roles at Apollo Global Management, where he worked on private equity and credit investments. He has a strong background in global finance, particularly in structuring complex deals and scaling businesses in financial services.
The British bank with £5 billion in assets focuses on a niche market: high-net-worth individuals (HNWIs) and property investors. Unlike traditional high street banks, it operates as a digital-only bank, offering tailored financial products such as high-interest savings accounts and specialist property-backed lending solutions.
This positioning sets it apart from challenger banks like Revolut or Monzo, which primarily target mass-market customers. Instead, Monument appeals to professionals with investable assets, particularly those involved in real estate.
Why a Nasdaq Listing?
Monument’s decision to list on Nasdaq, rather than the London Stock Exchange (LSE), reflects broader trends in the UK fintech sector. While London has long been a hub for financial services, Nasdaq offers higher valuations and greater access to tech-focused investors.
Several UK fintechs, including Wise and OakNorth, have debated or pursued US listings due to the higher appetite for growth-oriented financial firms in New York. By choosing Nasdaq, Monument Bank aligns itself with other digital-first banking players that have successfully raised capital in the US.
What’s next?
If Monument Bank successfully secures its £200 million funding round, it could fast-track its Nasdaq IPO within the next 12–18 months. The move would mark a major milestone for UK fintech, reinforcing the global shift toward digital banking tailored to specialised customer segments.
