Monzo in talks on sale to Nubank at about £10 billion valuation, Sky News reports (updated)

Nu Holdings

26/09/2026 10:24

Adds Nubank declines to comment in paragraph 4
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 and Nubank declined to comment.
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))