Monzo is in early-stage talks with Brazilian digital banking giant Nubank about a potential sale that could value the UK fintech at up to £10bn. London-based Monzo is discussing a tie-up with Nubank's New York-listed parent, Nu Holdings, according to sources. Any takeover would likely be structured as a mixture of cash and shares.

This comes as Monzo seeks growth capital after closing its US operations to focus on Europe. The bank was previously valued at £4.5bn in a 2024 secondary fundraising round. Monzo is being advised by Morgan Stanley and Qatalyst.

The discussions follow a shareholder rebellion last year after the departure of CEO TS Anil. Since February, new CEO Diana Layfield has streamlined operations and launched in Ireland and Spain. A sale to Nubank, which boasts a $65bn valuation and 140mn customers, would mark a significant shift for the London Stock Exchange.

Nubank is also focused on international expansion and holds an American banking licence. Monzo generated £87.3mn in pre-tax profits in the fiscal year to March 2026, up from £60.5mn, with revenues jumping 39 per cent to £1.7bn. However, it still trails domestic rival Revolut, which has 80mn customers across 40 countries.