Challenger bank Monument raises £28m ahead of summer launch

Monument is targeting “mass affluent” clients, including property investors and entrepreneurs, offering a similar service to private banking. The neobank has said it will offer customers the opportunity to seek property investment loans of up to £2m. 

Their Series A round, which exceeded its initial £20m target, has seen backing from Eric Zinterhofer, founding partner of private equity firm Searchlight Capital, and Harry Handelsman who oversaw the restoration of St Pancras Renaissance Hotel. 

The round brings Monument’s total funds raised to around £40m ahead of its launch this summer. 

Read more: City A.M.