Nubank in Early Talks to Acquire UK's Monzo for Up to £10bn

Brazilian fintech Nubank has approached UK digital bank Monzo over a potential acquisition valued at up to £10bn, according to reports confirmed as "serious" by a source close to the business. The deal, first reported by Sky News, remains in early stages as of September 26, 2026. The £10bn figure far exceeds Monzo's £4.5bn valuation in late 2024. Monzo, founded in 2015 and holding 16 million predominantly UK-based customers, reported £1.7bn in revenue and £87.3m in pre-tax profit. Nubank, Latin America's largest fintech with 140 million customers and a $65bn valuation, secured a US banking licence in January 2026. Monzo has also held talks with private equity firms about selling a stake of up to 15% as an alternative to the Nubank offer. A sale would deal a setback to the London Stock Exchange, which had viewed Monzo as a potential listing candidate. Monzo declined to comment.