TechCrunch - Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. Tom Blomfield, a 35-year old Oxford graduate, has placed on the 1000 wealthiest people in the UK. Amid the coronavirus chaos, Monzo and Revolut were also forced to combat – what later emerged to be “fake news” – rumours which suggested both had gone bust and that Monzo specifically had stopped paying staff. About Monzo … The business was … Monzo’s co-founder, Tom Blomfield, has left the challenger bank’s board, according to a Companies House filing. Blomfield places 858/1000 on the rich list where people are ranked by net wealth. Monzo’s co-founder Tom Blomfield made headlines back in May when it was revealed that he would step down from his role as CEO and become President of Monzo.. The two have made progress with the fintech’s financials. View Tom Blomfield’s profile on LinkedIn, the world’s largest professional community. Our response to the BBC Watchdog report: Why we sometimes have to block or close accounts. Blomfield co-founded Monzo back in 2014 and held the title of CEO until May 2020 when he moved to a new role of President. What the Fintech? Named Boso.com, it expanded to 50 universities across the UK, and ran the company from 2004 until 2006. Goldman picks Marqeta to power Marcus current account rollout. Monzo Bank Ltd (/ ˈ m ɒ n z oʊ /), is an online bank based in the United Kingdom. See the complete profile on LinkedIn and discover Tom’s connections and jobs at similar companies. While at Oxford, he received a £1,000 prize from a business plan competition, proposing an "eBay for students" in 2004. Tom Blomfield is no ordinary bank CEO. Existing customers can get help via the app. “COVID-19 just exacerbated things,” he tells TechCrunch. Monzo HQ 9 January 2020 . Tom has 5 jobs listed on their profile. — Tom Blomfield (@t_blom) January 20, 2021 The digital-only bank now has nearly five million customers and 300 staff at its offices in London and around the world. His exit is set to come into effect at the end of January, and follows Blomfield’s decision to move roles in May, from CEO to president. Currently, Just's virtual offering is in beta. The challenger bank, which he co-founded in 2015, may not have been the first UK … His sentiment hasn’t changed. Monzo Bank Limited is a company registered in England and Wales (No. One of the most well-known UK fintech CEOs Tom Blomfield, co-founder of Monzo, is leaving the leading neo bank, citing personal pressures heightened by the pandemic among other reasons.. Blomfield, who also co-founded Gocardless, and had also worked at Starling Bank with Anne Boden in its early days, revealed in a candid interview with Techcrunch, … Tom Blomfield, the founder of startup bank Monzo, is leaving the company at the end of the month, citing struggles with pandemic-related stress and frustrations leading a large bank. Just honestly not ones that I found that I was interested in or particularly good at”. 09446231). Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. Blomfield's two partners in the business went to Silicon Valley and went on the Y Combinatorprogramme, however he did not attend due to university examinations. Posts by Tom Blomfield on the Monzo blog. Tom Blomfield, founder of Monzo, is leaving the U.K. challenger bank, citing "challenges" from the pandemic, a report from TechCrunch says. Innovation in commercial lending with special guest, Dean Snyder, EVP at AFS. His exit is set to come into effect at the end of January, and follows Blomfield’s decision to move roles in May, from CEO to president. Read next: Monzo’s Tom Blomfield swaps CEO title for president role. According to TechCrunch, Blomfield voiced his unhappiness to investor, Eileen Burbidge, founding partner of Passion Capital, and Monzo chair, Gary Hoffman, back in early 2019. Meet Tom Blomfield, 33-year-old do-it-all boss of trendy bank Monzo who wants to file your tax return and stick savings in pots Monzo now has 2million users and an almost cult-like following fintechfutures.com/2021/01/vc-inv…, . Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. Tom Blomfield announced his plans to … More than five years after starting the company, Monzo co-founder Tom Blomfield is stepping down as CEO of the U.K. challenger bank to take … Tom Blomfield / Monzo CEO. The move meant Blomfield would no longer be part of the executive leadership team at the digital bank, stepping into a more community-focused role. Required fields are marked *. Image source: Tom Blomfield/Monzo. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG. Currencycloud talks tech, structure, product development and bank relationships. UK digital bank Monzo plans to hire 500 and relaunch paid accounts. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. Tom Blomfield cofounded Monzo in 2015 and was chief executive until last year. Originally operating through a mobile app and a prepaid debit card, in April 2017 its UK banking licence restrictions were lifted, enabling it to offer a full current account. More than 100,000 customers pay for either Monzo Plus or Premium, which has helped the challenger ween off interchange fees. @santanderuk nabs HSBC man Rakshit Kapoor as new chief data officer Whilst Blomfield admitted he was struggling pre-pandemic, when COVID-19 hit, it threw another spanner in the works. Our CEO, Tom, reflects on what we achieved in 2019 and gives a sneak peek into what we’re working on this year. Blomfield held the role of CEO until May last year when he assumed the newly created title of president and resigned from the Monzo board. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. “I stopped enjoying my role probably about two years ago,” he told TechCrunch this week. Blomfield, who co-founded the bank in 2015, announced in May 2020 that he was stepping down as CEO and would take on the role of president. New York cash advance app Brigit reveals $35m Series A. Brigit’s CEO is a former Deutsche Bank and Infosys executive. Monzo founder Tom Blomfield is departing the U.K. challenger bank entirely at the end of the month, staff were informed earlier today. America may have just gained a new president, but London fintech Monzo has lost theirs. The founder of Monzo has said he stopped enjoying the company’s top job around two years ago as he announced he was leaving the challenger bank. fintechfutures.com/2021/01/tom-bl…, Spectrum Equity invests $51m in OTC firm Quantile Technologies Image source: Tom Blomfield/Monzo One of the most well-known UK fintech CEOs Tom Blomfield, co-founder of Monzo, is leaving the leading neo bank, citing personal pressures heightened by the pandemic among other reasons. The challenger bank, which he co-founded in 2015, may not have TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield’s decision to leave the app-only bank. Monzo founder, Tom Blomfield, has announced his departure from the challenger bank, after founding the fintech back in 2015. Blomfield says Monzo’s board wanted him to remain as CEO longer than he did, dispelling rumours the board forced him out. Aion Bank signs payments processing deal with Form3. Prospective UK challenger Perenna lands $10m ahead of Q3 launch. Marcus plans to launch its new accounts later this year. Monzo HQ 9 January 2020 . He will leave day-to-day operations at the end of the month. Tom’s stake in Monzo Bank is valued at £140 million, on the back of a £2 billion valuation of the business. I think those are huge exciting challenges. Advertisement. I’m enjoying life again”. “It has given me the time and space to recover. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. Save my name, email, and website in this browser for the next time I comment. — Tom Blomfield (@t_blom) January 20, 2021 The digital-only bank now has nearly five million customers and 300 staff at its offices in London and around the world. Your email address will not be published. Monzo founder Tom Blomfield has announced he is leaving the challenger bank after he stopped enjoying his role. Monzo founder, Tom Blomfield, has announced his departure from the challenger bank, after founding the fintech back in 2015. The digital-only bank now has nearly five million customers and 300 staff at its offices in London and around the world. TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield… At the last count, Blomfield had a 7% stake left in Monzo. fintechfutures.com/2021/01/spectr…, . “COVID-19 just exacerbated things,” Blomfield told TechCrunch. Form3 to provide real-time payment processing, clearing and settlement. Our response to the BBC Watchdog report: Why we sometimes have to block or close accounts. Monzo founder-turned-president Tom Blomfield is leaving the UK challenger bank, marking the end of an era for a company that he took from a little startup back in 2015 to one of the most valuable fintechs in Europe with 5m users. TechCrunch fait partie de Verizon Media. Tom Blomfield, founder of digital bank Monzo and former CEO is departing the Fintech entirely at the end of January according to a report.. Blomfield has been slowly exiting the Fintech in … Monzo in 2020: looking back and looking forward. “Going from a CEO where you’re front and centre dealing with all of the different pressures every day to a much lighter role is a huge huge weight off my shoulders. Monzo’s founder has also opened up about his “struggle” through COVID-19. He told a reporter that the business struggled to raise money due to difficulties connecting with investors. Monzo was one of the earliest of a number of new app-based challenger banks in the UK.. Tom has 5 jobs listed on their profile. See the complete profile on LinkedIn and discover Tom’s connections and jobs at similar companies. “I don’t think I was any different, so I was really struggling. Our CEO, Tom, reflects on what we achieved in 2019 and gives a sneak peek into what we’re working on this year. The fintech lodged its banking licence in the last quarter of 2020. @SimCorp SFTR solution goes live at Denmark’s ATP improve your experience and our services. Blomfield himself decided to forgo his salary for a year and top executives took a 25% pay cut. “As we grew from a scrappy start-up that was iterating and building stuff people really love, into a really important UK bank.”. Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. fintechfutures.com/2021/01/simcor…, Female-founded fintechs accounted for 17% of the UK’s total fintech VC investments over 2020, up 6% from 2019 It saw Monzo’s valuation plummet 40%, from £2 billion to £1.25 billion, in its first 2020 funding round, and the challenger placed 295 members of staff on the UK voluntary furlough scheme – as well as shuttering its Las Vegas office. "What about tears that are not about life outside the office walls, but life inside them?" By… twitter.com/i/web/status/1…, https://www.fintechfutures.com/wp-content/themes/fintech_child/assets/images/logo/fintech-logo.png, Under the hood of London payments platform Currencycloud. Monzo founder Tom Blomfield has announced he is leaving the challenger bank after he stopped enjoying his role.. Blomfield, who co-founded the bank in 2015, announced in May 2020 that he was stepping down as CEO and would take on the role of president. Monzo founder Tom Blomfield is to depart the UK challenger bank at the end of the month after admitting that the pressure of growing the firm in the … The filing states that the termination occurred on 17 June 2020, nearly a full month after news of Blomfield’s new role broke. He explains: “Taking on a bank that’s three, four, five million customers and turning it into a 10 or 20 million customer bank and getting to profitability and IPO-ing it. By continuing to use our website, you agree to the use of such cookies. Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. Monzo cofounder Tom Blomfield is stepping down as chief executive of the UK challenger bank as the coronavirus pandemic continues to bring added pressure to the fintech sector. Image source: Tom Blomfield/Monzo. UK fintech Just lands court backing to undercut bailiff industry. Five years later, the digital bank's bright coral pink cards are now a common sight in London. to allow for analysis of how people use our website in order to “I think [for] a lot of people in the world […] going through a pandemic, going through lockdown and the isolation involved in that has an impact on people’s mental health,” Blomfield adds. Tom Blomfield, founder of Monzo, is leaving the U.K. challenger bank, citing "challenges" from the pandemic, a report from TechCrunch says. I’m now feeling pretty great. […] When I put my hand up and said, ‘I need help,’ they [exec team and investors] were super receptive to that.”. This website uses cookies, including third party ones, Female-led tax reporting fintech @KAWatsonConsult takes tech into own hands Monzo in 2020: looking back and looking forward. TechCrunch reported on Wednesday night that Monzo staff had been informed of Blomfield… It’s time to “hand over the baton”, Blomfield told TechCrunch this week. As well as customers climbing 1.3 million since 2019, to five million, they have also achieved a total weekly revenue which is now 30% higher than pre-pandemic figures. Blomfield served as been CEO of Monzo … Tom Blomfield, the founder of startup bank Monzo, is leaving the company at the end of the month, citing struggles with pandemic-related stress and frustrations leading a large bank. fintechfutures.com/2021/01/female…, Raiffeisen Bank International [@RBI_Presse] invests in a Romanian start-up Finqware, [@FINQware] which is driving o… twitter.com/i/web/status/1…, Tom Blomfield [@t_blom] exits @monzo and opens up about mental health during COVID-19 Tom Blomfield, the founder of startup bank Monzo, is leaving the company at the end of the month, citing struggles with pandemic-related stress and frustrations leading a large bank. “The options today are mobile money or banks,” says CEO. The fintech entrepreneur, who has signed up to be a volunteer vaccinator in the UK – which any citizen can do through St John’s Ambulance – says he may take himself on holiday in the next few months, post-lockdown. Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. Tom Blomfield announced on Wednesday night that he is exiting Monzo for good. However, having been given … Monzo HQ 18 October 2019 . Tom Blomfield / Monzo CEO. The U.K. entrepreneur traveled to … Blomfield served as been CEO of Monzo … fintechfutures.com/2021/01/santan…, A thing apart Source: I am the CEO.”. The soon-to-be former president realised he was “doing too much and not enjoying it”, acknowledging that the “scrappy start-up” days were officially over. Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. | S.2 Episode 1 | Innovation in commercial lending. Blomfield held the role of CEO until May last year when he assumed the newly created title of president and resigned from the Monzo board. Tom Blomfield started Monzo in 2015. Monzo co-founder Tom Blomfield is standing down as chief executive to take up a new position as the payment company’s president, after waiving his salary for a year to save costs amid coronavirus. Blomfield personally responded to the Twitter storm, affirming: “Monzo is not going bust. Monzo HQ 18 October 2019 . Alternatively, post a comment by completing the form below: Your email address will not be published. TS Anil, who took over as CEO back in May at Monzo, has steered the fintech through COVID-19 alongside Sujata Bhatia, who joined the challenger as chief operating officer last year. But then Monzo is no ordinary bank. View Tom Blomfield’s profile on LinkedIn, the world’s largest professional community. rumours which suggested both had gone bust, Monzo’s Tom Blomfield swaps CEO title for president role, Vietnamese "super app" hopeful MoMo lands $100m Series D, Video: Top fintech stories this week - 15 January 2021. ... also questioning Anil’s ability to oversee UK regulation. The move to president from CEO was designed to give Blomfield time to “get well” and review his time at Monzo – with the possibility of fully exiting on the table back then too, according to TechCrunch. Blomfield held the role of CEO until May last year when he assumed the newly created title of president and resigned from the Monzo board. Copyright © 2021 Informa PLC. Pyypl’s regulation-first approach to MENA starts to pay off. Click here for more information on our. Monzo founder Tom Blomfield is to depart the UK challenger bank at the end of the month after admitting that the pressure of growing the firm in the … Blomfield told TechCrunch back in May last year: “I went through all the stuff I love about my job, and it was all the stuff I did in the first two or three years.”. In a statement on Mr Blomfield’s departure, Monzo said: “Tom is an incredible entrepreneur who, with his co-founders, built Monzo from the ground up with a determination to be transparent, put customers first and make … The challenger bank, which he co-founded in 2015, may not have been the first UK … Coral pink cards are now a common sight in London and around the.. | Innovation in commercial lending s decision to leave the app-only bank current account rollout Blomfield co-founded Monzo in!, affirming: “ Monzo is not going bust relaunch paid accounts Ltd... 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