Corrected: UPDATE 1-Monzo in talks on sale to Nubank at about £10 billion valuation, Sky News reports

Nu Holdings

26/09/2026 08:56

Corrects to say Monzo was last valued at £4.5 billion in October 2024, not "last October" in final bullet point
Sept 26 (Reuters) - Brazil's Nubank NU.N is in early-stage talks with British digital bank Monzo about a potential combination that could value Monzo at between £8 billion and £10 billion ($10.60 billion - $13.25 billion), Sky News reported on Saturday.
An acquisition by Nubank is one of two options Monzo's board is currently exploring, Sky News said, citing a source close to the process.
The other option is a new funding round expected to value Monzo at more than £8 billion, with proceeds earmarked for a mainland European expansion, the report said.
Monzo declined to comment. Nubank could not be immediately reached for comment outside regular business hours.
Nubank, headquartered in Sao Paulo, is listed on the New York Stock Exchange with a market capitalisation of about $65.5 billion.
London-based Monzo made a pretax profit of £87.3 million for the year ended March 31, up from £60.5 million a year earlier, with revenue growing to £1.7 billion from £1.2 billion, according to its annual report.
Monzo was last valued at £4.5 billion in an employee share sale in October 2024, to investors including Singapore's sovereign wealth fund GIC and StepStone Group.
($1 = 0.7547 pounds)

(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Kirsten Donovan)
((Rajveersingh.pardesi@thomsonreuters.com))