Fintech, Mondo is Officially a Bank

mondoLondon, UK-based mobile bank Mondo has obtained a banking licence and been officially authorized to operate in the UK regulated by the Financial Conduct Authority and Prudential Regulation Authority.

According to a post on the web site, Mondo has just received a banking licence with restrictions. Over the coming months, the company will be working with the regulators to get restrictions lifted and launch a full current account with debit cards, faster payments, direct debits, etc.
In the meantime, Mondo will continue to distribute its beta cards and develop the app to publicly launch in early 2017 giving current users the option to switch to the full “Mondo” account.

Started in February 2015, the company has raised over £6m in vc funding from Passion Capital and £1m in equity crowdfunding in the fastest campaign ever (96 seconds) from more than 1800 individuals.



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