Digital-first banks (such as N26, Monzo, Chime, Current, etc.) in the US and Europe.

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Digital First Banks: Rows 3 - 6

N26, Monzo, Chime, and Current are online-only banks that target the younger generation - which depends on its smartphones to carry out activities. The requested information on these companies has been entered into the attached spreadsheet.


  • Founded in 2013, N26 is an online-only bank that claims to allow customers organize and control their financial world.
  • It was founded by Valentin Stalf and Maximilian Tayenthal with the aim of "reimagining the retail banking experience for today’s mobile lifestyle."
  • The company has more than 3.5 million customers in 24 European markets.
  • Its monthly transaction volume is over €1.5 billion.
  • Its latest funding occurred on January 9, 2019, from a Series D funding round where it raised $300 million.


  • Monzo is a digital-only bank platform that was founded in 2015.
  • Headquartered in London, UK, the company claims it is focused on helping people manage money rather than simply selling its financial products to people.
  • Monzo has more than 800 employees and targets people who "live their lives on their smartphones."
  • Monzo offers a full bank account for personal use and another for business use. Its business account includes contactless Mastercard debit cards, instant notifications whenever one spends or is paid, and instant bank transfers/direct debits.
  • To date, Monzo has raised a total funding amount of £324.7 million.



  • Founded in 2015, Current is a financial technology company that aims to get its users paid "quicker with direct deposit up to two days early and instant gas hold credits."
  • It is headquartered in New York and offers a smart debit card for teenagers.
  • Current offers personal checking accounts and teen banking services. Its teen banking services allow teenagers to easily shop online and save money.
  • Till date, Current has raised $9.6 million in total from investors like Fifth Third Capital and QED Investors.

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Digital First Banks: Rows 7 - 9

Revolut, Starling, and Ally are digital banks. The requested information on these companies has been entered into the attached spreadsheet.  


  • Launched in July 2015, Revolut is a digital banking option that allows customers to easily manage their money and move it around in different currencies.
  • Headquartered in Wharf, London, the company enables its users to pick from the "best available services in the market."
  • Revolut differs from other traditional banks by offering the option to withdraw and spend money in about 120 currencies.
  • Revolut has over 5 million customers who have completed more than 350 million transactions worth over £40 billion.
  • Its total funding amount till date is $344 million.


  • Starling Bank was founded in 2014 with the main aim of helping people manage money from one app.
  • Headquartered in London, it is a mobile-only bank with impressive features such as spending habit accountability, flexible overdraft, and a MasterCard Contactless Debit Card.
  • The company claims customers can apply for its personal current account in less than five minutes.
  • Through its quick application process and transparency, Starling stands out from other traditional banks.
  • Starling has more than 480,000 users and forecasts hitting 1 million users by the end of 2019.


  • Ally claims it is revolutionizing the online banking space by offering an innovative digital experience, a great range of online-only banking options, and 24/7 customer service.
  • Although Ally was founded in 1919, it was rebranded in 2009 with a "distinctive brand, an innovative approach, and relentless focus on its customers."
  • Headquartered in Detroit, Michigan, it is the largest "full service auto finance operation" in the US.
  • Despite being in the financial industry for decades, Ally still maintains its excellent customer service. This makes it standout from other traditional banks and competitors.
  • The company has also won several awards for its services including "Best Online Bank" by Money Magazine in 2018.
  • Ally Bank caters to the US alone and has over 12 locations in the country.
  • Ally is a public company. It has raised $2.3 billion at IPO. Its IPO was on April 10, 2014, and its 2018 revenue was $10.5 billion.

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Digital First Banks: Rows 10 - 12

We have updated rows 10-12, columns C-J of the attached spreadsheet with the requested information on the digital banks BankMobile, Koho, and Simplii Financial. BankMobile was founded in 2015 and is headquartered in New York. Koho was founded in 2014 and is headquartered in Ontario, Canada. Simplii Financial was founded in 2017 and is headquartered in Ontario, Canada as well.

We have provided a summary of our findings below.


  • BankMobile has not raised any fund since inception. This is because the company started out as a division of the company Customers Bancorp, based in Wyomissing, Pennsylvania.
  • Simplii Financial has not raised any fund since it was established. This is because the company is a trademark and a division of the Canadian Imperial Bank of Commerce (CIBC).


To identify all the information for this request, we made use of first-hand sources such as company websites, LinkedIn pages, and Crunchbase pages. In cases where any of the required information was not available in any of the three sources mentioned above, we proceeded to look through other sources such as reputable news websites, including PR Newswire. Using the methods mentioned above, we were able to retrieve all the requested information.

At the end of our research, we discovered that the companies BankMobile and Simplii Financial have not raised any fund since they were established. This we realized is due to the fact that they were set up as a part/division of a parent organization. As such, we have entered N/A in the corresponding cells for both companies in the project spreadsheet.