Cascade Commentary

Challenger Bank Monument raises £28m of funding, paving way for launch

March 2021

Sky News has reported that Monument Bank is to announce the successful completion of its Series A funding round, raising £28m of funding from a syndicate of individual investors including Eric Zinterhofer, a founding partner of private equity firm Searchlight Capital, Rakesh Loonkar, a cybersecurity entrepreneur, and Harry Handelsman, who oversaw the restoration of London’s St Pancras Renaissance Hotel. Monument is targeting customers with a net worth of £250,000 to £5,000,000 (excluding their main property) with buy-to-let and bridge-to-let products a core part of its offering.

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