A Challenger bank which has raised a substantial clientele of the richest savers in Great Britain is in talks on the collection of 200 million pounds of private funding before continuing an American flotation which would raise other questions about the attractiveness of the attractiveness of the attractiveness of London market.
Sky News has learned that Monument Bank, who now has about 5 billion pounds sterling of assets, told existing and potential investors that he was registering on New York Nasdaq exchange by the end of 2027, With a secondary registration on a large Middle East or Indian exchange possible the following year.
The British lender, of which the founding president was the former managing director of the cooperative bank Niall Booker, has already raised around 135 million pounds of first -rate investors since its launch in 2019.
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He has now obtained approximately 30 million pounds sterling in the financing of the C series of 200 million pounds sterling which he wishes to raise during this year.
The initiates said that the bank should be assessed at around 1 billion pounds Sterling after the end of fundraising.
Monument Bank – named after the famous commemoration of the London Fire in the City – wants to become the bank of choice for around 4.8 million professionals, entrepreneurs, real estate investors and other tributaries en masse in the United Kingdom.
To date, it has opened more than 60,000 accounts.
It counts Monument Technology Limited, which recently completed a separate financing tour, as a subsidiary, although some of the investors of the technological branch are not part of the shareholders of the bank.
In response to a Sky News investigation, Ian Rand, the former director of Barclays who is now Managing Director of Monument Bank, confirmed that he was aimed at collecting up to 200 million pounds sterling.
“We are planning that it will be our last fundraising that will support our product and our international expansion and will finance our way to the list,” he said.
“We will explore all the list options and make the final decision at the appropriate time.”
A banking source said that other exchange sites had not been excluded, but the marketing documents disseminated in relation to the Tour of the C series make an explicit reference to the desire for registration in the NASDAQ.
A decision to list abroad would be perceived as another blow on the London Stock Exchange given the name and assets of the company.
Other so -called Challenger banks, such as Monzo, have recently been at the center of speculation to find out if they would seek to float in London or New York.
Shawbrook Bank has developed plans to become public in London this year, Sky News reported last month.
Monument Bank has already built a clientele with deposits far superior to most British peers, at more than £ 60,000 on average.
He also wishes to guarantee banking licenses in Dubai and India, according to one of its existing shareholders.