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- 📈 Monzo’s £4.5B Milestone: Fintech’s Rising Star!
📈 Monzo’s £4.5B Milestone: Fintech’s Rising Star!
SpaceX Nails Booster Catch
This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes
In today’s stories:
Monzo’s £4.5B Milestone: Fintech’s Rising Star!
SpaceX Nails Booster Catch
Britain’s Investment Summit: Red Tape Gets Snipped!
The summary: Monzo’s £4.5 billion valuation, investor confidence, and 10 million-strong customer base show it's thriving in the fintech game, keeping pace with the likes of Revolut and N26, while rewarding its employees along the way!
The details:
Monzo, the UK's darling digital bank, hits a £4.5 billion valuation, trailing behind fellow fintech giants Revolut ($45B) and N26 ($9B).
Employees are cashing in, converting their shares into hard-earned pounds in a secondary sale – a nice perk for holding the fort in fintech's wild west.
With backing from major players like Google’s CapitalG and Tencent, Monzo’s funding rounds have topped $1.9 billion, fuelling its impressive growth since 2015.
Boasting over 10 million customers and premium offerings like Monzo Plus, this fintech sensation keeps pushing boundaries, all while riding the ever-competitive fintech wave.
Why it matters: Monzo’s latest valuation shows it’s still punching above its weight in a fintech world dominated by Revolut and N26. Giving employees a payday through share sales keeps morale high while also signaling investor confidence in the bank’s staying power. With over 10 million customers, Monzo is proving it’s more than just a trendy app, evolving into a major player on the UK’s digital banking scene.
The summary: SpaceX's successful mid-air booster catch brings us one giant leap closer to affordable space travel and Musk's dream of Martian cities—though he’s still not on the UK’s guest list!
The details:
SpaceX's Starship booster took a thrilling leap into history as "Mechazilla" snagged the rocket mid-air for the first time—an engineering win Musk called “one for the history books.”
With 233 feet of rocket returning gracefully to the launchpad via giant mechanical chopsticks, SpaceX’s reusable booster tech brings Mars colonisation a step closer.
Musk's bold vision of a Martian metropolis for millions in 30 years looks a touch more credible—if we can keep civilisation steady, that is.
Despite SpaceX’s success, Musk found himself off the UK’s guest list for the International Investment Summit, no doubt raising a few eyebrows.
Why it matters: Elon Musk's Starship booster catch isn't just rocket science; it's a step toward reusable space travel, which means fewer sky-high costs and more frequent trips to the Moon and Mars. SpaceX's feat puts humanity closer to becoming an interplanetary species, with potential Martian cities no longer just sci-fi fantasy. And while Musk wasn't invited to the UK's investment party, it's hard to ignore the man who's planning a spacefaring future—even from the back of the room.
The summary: The UK is gearing up for a grand investment summit, promising to slash red tape and attract global investors while navigating tax hikes and balancing worker rights, all with a cheeky wink and a dash of entrepreneurial spirit!
The details:
The Prime Minister is sharpening his scissors, ready to snip away pesky regulations stalling investment, while Labour’s Keir Starmer vows to yank out bureaucracy like an unwanted weed, asking the competition watchdog to prioritise growth.
With investment summits and bigwigs in town, major firms like Goldman Sachs and Aviva cheer on Britain's post-Brexit charm offensive, convinced it's time to back the UK economy – even Elon Musk would have been “very, very welcome,” had he brought his wallet.
Amid Budget jitters, National Insurance hikes loom, but Labour swears their pledge applies only to employees – businesses, watch your pockets! Meanwhile, the £1bn DP World deal for London Gateway is back on, despite some ferry-related drama.
Workers' rights reforms promise first-day sick pay and parental leave from day one, but small businesses cry foul, calling the government's rollout a “clumsy, chaotic” mess, fearing it may freeze hiring rather than foster growth.
Why it matters: The UK is rolling out the red carpet for global investors, hoping to win their cash with a blend of charm and regulatory axe-wielding. But as ministers juggle growth promises with looming tax hikes and awkward spats over ferries, businesses are wondering if the government’s balancing act will pay off. Meanwhile, small firms are nervously eyeing worker-friendly reforms, fearing they might end up hiring headaches rather than new staff.
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