Neobank Monese nabs $35M from HSBC

Monese, the London-based fintech that provides digital banking and remittance services to consumers and businesses across Europe, has raised $35 million from global banking giant HSBC.

Founded in 2013, Monese is one of several so-called “challenger” banks to emerge from the U.K. capital, serving customers with a range of online-only services including standard cash accounts, savings and international money transfers. Other notable players in the space include Revolut, which hit a hefty $33 billion valuation last year; Monzo, which is now valued at $4.5 billion; Starling Bank, which recently increased its valuation to $2.9 billion; and Wise, which went public last year and now has a market cap of nearly $6 billion.

Read more: TechCrunch