20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 693 Ratings
🗓️ 13 February 2025
⏱️ 56 minutes
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Summary
TS Anil is the CEO @ Monzo, where he has been the mastermind behind the greatest turnaround in tech in the last 10 years. When TS took over at Monzo they had £40M in revenue, very little runway, had a 40% down round and had large layoffs and low employee NPS. Today they are at £1BN in revenue, profitable and the UK's largest digital bank with more than 10m customers.
From $40M Revenues to $1BN Revenues and Profitable:
1. What are the most profitable elements of Monzo's business today? How will that change in time?
2. What did TS do with Monzo that he wishes he had not done? What did he not do that he wishes he had done?
3. How does TS approach expansion? How will he win Europe against the competition of Revolut?
4. Why have no European fintechs won when expanding into the US? What do they do wrong?
5. How does TS think about the decision to go public? Will he go public in London?
6. How does TS respond to the notion that Monzo has a "work life balance" culture in the face of the fierce culture of Revolut?
7. What have been TS' biggest lessons from raising $1BN for Monzo from the largest institutions in the world? What was the easiest round? What was the hardest?
8. What three core traits does TS believe all great leaders need to have? If you do not have them, how can you develop them most efficiently?
Transcript
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| 0:00.0 | This is 20 VC with me, Harry Stebbings, and today we feature what I believe is one of the greatest |
| 0:04.5 | turnarounds in modern tech. When T.S. Anil took over Monzo, they had very little runway, they had a 40% |
| 0:12.0 | down-down, mega layoffs and very poor NPS for employees, with just 40 million in revenues. |
| 0:19.1 | Today, they are the leading UK digital bank. They have 10 million |
| 0:23.2 | customers. They have a billion in revenue and they are profitable. What an insane journey with |
| 0:28.6 | TS at the helm. And today, he joins us in the hot seat to unpack it. This is a very special episode. |
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... |
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