I stepped down as CEO because I was burned out. Completely. I'd been running at full speed for six years. The company was healthy. I wasn't. That's a bad combination.
We raised a million pounds on a crowdfunding platform in 96 seconds. Ninety-six seconds. That told us everything we needed to know about how much people hated their banks.
The coral card was a branding accident that became our identity. We picked it because it was different from every other bank card in your wallet. Turns out people love showing it off.
British banks charge you £35 for going overdrawn by £1. Then they charge you interest on the overdraft fee. It's predatory and everyone knows it. We just said: we won't do that.
We have 7 million customers in the UK. The population is 67 million. One in ten British adults has a Monzo account. For a company founded in 2015, that's not bad.