Monese, a London, UK-based fintech startup that allows users to open up a UK bank account on mobile, raised $1.8m in seed funding.
Backers included Seedcamp, Spotify investor Shakil Khan and a select group of other angel investors.
The company intends to use the funds to launch during Summer with plans for international expansion in the near future.
Founded by CEO Norris Koppel, Monese provides banking services for immigrants and expats across Europe. This summer, it will launch a branchless digital banking service that offers instant account opening via a mobile app, a fully-featured current account interface, global payments and a contactless debit card.
The company is licensed and regulated by the UK Financial Conduct Authority (FCA).