British neobank has officially launched its services for individuals and businesses in as of 28 October 2026. Led by Francisco Sierra, the firm employs 80 staff across Madrid and Barcelona. The expansion follows three years of sustained profit.
Individual accounts offer a 4% interest rate on the first 5,000 euros for 12 months, dropping to 2.5% for higher balances. Features include family accounts, Bizum cancellation within 60 seconds, and business tools for digital invoicing and tax payments.
With 16 million UK customers, Monzo enters a market where has seven million users. Backed by and Singapore's sovereign wealth fund, the initial Spanish rollout excludes loans and investment services as the bank scales its European presence.