Monzo, the UK digital bank, has secured $430 million in a new Series I funding round, lifting its valuation to $5.9 billion. The fresh capital marks another major milestone for one of Britain’s most closely watched fintech firms.

The company said the investment will help support its push beyond the UK, with a focus on growing in the US and across Europe. The raise underscores continued investor appetite for consumer finance platforms that can scale internationally.

Monzo has built a large customer base by offering app-based banking tools and lower-friction financial services. Its latest funding round suggests backers see room for further expansion, even as competition in digital banking remains intense.

The new valuation places Monzo among the most valuable startups in the UK and gives the company additional firepower as it tries to deepen its presence in overseas markets while competing with established banks and other fintech challengers.

Series i

Monzo raises $430 million as valuation hits $5.9 billion