Starling or revolut
The real answer - time will tell
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Revolut is the ultimate champ in this race for the best and go after challenger bank. Monzo has not updated its UX in a long while, unlike Revolut. Service after service comes from Revolut. This is why i didnt invest in Monzo. I still struggle to comprehend what is or are competitive or unfair advantage of Monzo in this race. Sorry for my 50 cents, i am going to say that Monzo will be out, although i dont wish this to happen with all respect to all investors and the company’s employees and customers.
You may argue that radical changes in a company are for the better when they happen, but companies also fail after. Should i keep backing solely the coral and recognisable card in my wallet, when i have not seen Monzo-led products on the market in a long while? For me no.
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Revolut aren’t even a bank so I wouldn’t consider them personally,
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I am convinced it’s a matter of time for them, and surely they are working hard around the clock to get the bank license in the UK.
There are reasons why Revolut hasn’t done it - it’s hard to get a UK banking license and manage regulators day to day. Monzo has said themselves it takes a lot of time and effort. Revolut has succeeded by consciously avoiding getting full banking licenses bar one in a small market which is regarded as lighter touch compared to many other markets in Europe. Until they get the full license then they are not a full bank and not many people will want to keep with them more than a couple of grand.
Revolut, clearly. Dodgy practices and a terrible culture? Nailed it. 
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Monzo are going to be a 30 billion company in 5-10 years. Absolutely no doubt whatsoever.
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It’ll be interesting to see whether a legacy bank tries to buy Monzo if things don’t improve for a while - I highly doubt it but it’s a possibility.
Revolut I just can’t use given their lack of ethics when it comes to their employees - it is no doubt an indicator of their overall business. It’ll also be interesting to see how Monzo changes given the drastic changes at the top and them getting rid of a large number of staff.
Starling are the tortoise in the race but certainly not perfect as they’ve been hit by some negative news given the BBL issues.
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What Banks of today would that valuation make them equivalent to?
As the Draper Esprit VC said in the AMA private company share prices go up and down, same as public company prices.
I think Monzo laying off engineers and other core people is a good sign they are working hard to turn around the business. It is an opportunity to manage out people they’ve been wanting to. There was even an article that staff was staying at Monzo too long and not moving on.
Tom Blomfield had been talking revenue and radical candour and laying off people before COVID already.
I agree the tweets are coordinated, but nothing wrong with that, everyone deserves to get new opportunities IMHO.
I expect Monzo will come out as winner from the neobank wars, but there’s some work ahead of them and the pressure of COVID might be a blessing in disguise.
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at £30Bn they’d be bigger than Lloyds, RBS or Barclays. I can’t see that happening inn 5-10 years myself
Precisely that was the point I was hinting at!
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Barclays have 25 million customers,Monzo has 4.3 million in 5 years,once they learn how to monetise and expand into the USA. I can easily see them being on a par with Barclays.
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On a par with Barclays!?!? They have 48 million customers.
Monzo need to get their act into gear, the competition are leaving them behind and I see they have just made a bunch of redundancies (inc. there head of diversity! what a time to do that!).
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To be clear they’ve not made anybody redundant yet
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It’s not just customer numbers. Barclays made over £3B profit last year. Is Monzo even profitable yet?
They may well grow and become a successful Bank. but I think your time scale is pushing it. Of course there’s a chance they could end up with an irrationally high valuation, plenty of those flying around recently
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Dilution central at Monzo. Their valuation is currently the same as it was in December 2018
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Barclays have £450bn of customer deposits. Monzo about £0.5bn.
461M in Feb 2019 when they had a third of the number of accounts. I suspect it is significantly higher now.
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