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Monzo takes a 40% valuation dip

Administrators at UK based neobank Monzo – which last year was valued at 2 billion GBP, have announced a new funding round which will peg it’s valuation at 1.25 billion GBP – 40% less than it’s previous evaluation. The valuation adjustment is due to the COVID-19 pandemic making investors timid – forcing tech companies to adjust their valuations.

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