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Instagram co-founder Kevin Systrom has backed the U.K. challenger bank Monzo

Instagram co-founder Kevin Systrom has backed the U.K. challenger bank Monzo
From TechCrunch - November 21, 2017

Monzo, one of a number of challenger banks in the U.K. aiming to re-invent the current account, is assembling quite an array of backers, many with a U.S. bent.

Its most recent round, which gave the startup a 280 million post-money valuation, saw the likes of Goodwater Capital, Stripe, and Michael Moritz invest, and before that Thrive Capital became a backer. Now TechCrunch has learned that we can add Instagram co-founder Kevin Systrom to the list of U.S. investors.

A recent regulatory filing lists Systrom as a Monzo shareholder via his Kevin Systrom Revocable Trust. Interestingly, the same filing confirms our earlier, albeit tentative, scoop that British singer-songwriter Tom Odell has also invested in the bank. I understand that both investments were part of Monzos Series C round in February.

Were very happy Kevin Systrom is supporting Monzo as an investor and were excited to have him on board, said a Monzo spokesperson confirming that Systrom is a backer.

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