Nu Holdings explores takeover of Monzo for up to £10bn

Nu Holdings, the parent company of digital lender Nubank, is in early-stage talks to acquire British consumer bank Monzo, Sky News reported on 25 September 2026. The potential transaction could value Monzo at between £8bn and £10bn ($10.6bn to $13.3bn) and is likely to be structured as a cash-and-stock deal.

Nu Holdings has a market capitalisation of $65.5bn (£49.4bn) and serves 140 million customers across Brazil, Colombia, and Mexico. Monzo has retained investment bankers from Morgan Stanley and Qatalyst to advise on the discussions, while its board also considers an alternative funding round exceeding £8bn to finance expansion in mainland Europe.

Monzo has 16 million customers, comprising 15 million personal banking users and 1 million business accounts. The digital bank was last valued at £4.5bn in an October 2024 secondary share sale. In its most recent annual results, Monzo reported a 39% increase in revenue to £1.7bn and adjusted pre-tax profit of £172.6m, up 20%.

When asked about the discussions, Nu Holdings stated that it does not comment on rumours or speculation, adding that it remains committed to open, clear, and timely communication on significant business matters.