Monzo, the digital bank, which has one in five British adults among its customers, is close to the appointment of investment bankers to direct a stock market rating valuing it to more than 6 billion pounds Sterling.
Sky News learned that Monzo works with Morgan Stanley, Wall Street giant, during a series of meetings with potential investors before a first public offer that could take place from the first half of next year.
People close to the company said this weekend that bankers would be officially hired to work on registration in a few months, Morgan Stanley should now be a key role in the agreement.
The timing, size and location of an IPO must still be determined and will depend on the market conditions in London and New York, which were both overwhelmed by the introduction by Donald Trump of swinging commercial prices.
However, London is currently considered to be the most likely place of registration for Monzo by the members of the board of directors and investors, according to people close to the situation.
The company, which saw its assessment die out at 4.5 billion pounds Sterling last year after sales of primary and secondary shares, plans a new sale of existing shares to allow first investors and employees to collect, although a decision to proceed has not yet been taken.
Monzo has more than 11 million retail customers in the United Kingdom, making it the seventh British bank by many customers and 600,000 commercial customers.
Founded a decade ago, it became one of the most successful and precious fintech societies in Great Britain.
It employs nearly 4,000 people.
Last year, he raised more than 500 million pounds sterling by selling shares newly issued to a group of investors led by Capital G, a Google division belonging to Alphabet.
This main action sale estimated the company at 4.1 billion pounds sterling.
An IPO, including any new capital noted, would be likely to enhance Monzo to more than 6 billion pounds sterling, and potentially in the region of 7 billion pounds sterling, according to banking sources.
Last year, the sale of secondary shares saw the existing Monzo Investors Stepstone Group and GIC, the Singaporean Sovereign Wealth Fund, buying shares from employees.
The company is now profitable and has diversified in investment and instant access savings accounts.
He also launched products and pension accounts for children under 16.
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Monzo is part of a new generation of banks that have emerged since the last financial crisis and began to accumulate a significant part of the British retail banks.
The rivals include Starling Bank and Revolut, which was estimated at $ 45 billion during its last fundraising and received a banking license by British regulators last year after a prolonged process.
Monzo recovered spectacularly by a difficult period in 2020 when it appeared that the city watchdog was investigating the potential violations of the rules for whitening money and financial crime.
It has reorganized its business structure as it pursues an international expansion aimed at attracting new investors to its long -term growth strategy.
The company has explored the acquisition opportunities in the United States and Europe, although a major transaction is not considered imminent.
Monzo Bank Holding Group was created to prevent the company from being faced with punitive capital treatment by British regulators when it was launched in new markets abroad.
The other Monzo investors include the Chinese group Tencent, Passion Capital, Accel, General Catalyst and Hedosophia.
Monzo is led by TS Anil, its managing director, and chaired by Gary Hoffman, the banker who recovered Northern Rock after his nationalization in 2008.
This weekend, a spokesperson for Monzo refused to comment.