Monzo is in early talks with Brazilian digital banking giant Nubank about a sale that would potentially value the UK fintech at up to £10bn, reports suggest. The discussions are in preliminary stages and no agreement has been reached. Nubank, one of the largest digital banks in Latin America, has been expanding globally and sees strategic value in acquiring established European fintechs.

A sale to Nubank could provide Monzo with significant resources and international scale to accelerate growth. The potential valuation range reflects market interest in profitable, scalable digital banking platforms. Monzo has been profitable since 2023 and serves over 8 million customers in the UK.

Nubank, founded in 2023, serves more than 90 million customers across Brazil, Mexico, and Colombia. The talks come amid increased consolidation in the global fintech sector as larger players seek to acquire innovative challenger banks. Neither company has commented publicly on the reports.