Monzo’s revenue surged 39% to £1.7bn in FY2026, with gross profit reaching £1bn for the first time, according to new annual figures published by the digital bank.
Monzo delivered strong profitable growth, while investing significantly in international expansion, product, platform, brand and marketing.
The 39% revenue growth was powered by four income streams of over £300m – current account balances, borrowing, payments and wealth. Business Banking now represents 14% of total revenue after business customers surged 45%.
Profit before tax climbed 20% to £172.6m, monthly active users (MAU) hit 10.4 million and card spend was up 32% year on year.
The digital bank also welcomed over a million ‘Monzo for Under 16s’ customers in the first year since launch, and over 1.6 million customers now subscribe to paid plans – a 49% increase.
“We’ve delivered strong, profitable growth while investing in the foundations that will power our future,” says Diana Layfield, group CEO of Monzo.
“Millions of customers are choosing Monzo for more of their financial lives. We’re building on that momentum by delivering more products for personal and business customers, continuing to grow in the UK and bringing Monzo magic to Europe in a way that feels truly local from day one.”
