A bank that belongs on the smartphone, not on the high street: that’s the bold aim of Mondo, who epitomise the vibrant innovation that’s occurring across London’s fintech and new banking space.

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Mondo Convergence Hero London Technology Week

Founded in 2015 by Tom Blomfield, Jason Bates and Jonas Huckestein the branchless, app-only service is still in its beta stage but is creating huge excitement. In March, the company raised £1m from Crowdcube investors in just 96 seconds - a record for equity crowdfunding. It aims to have its full banking licence later this year; in the meantime, more than 60,000 people are on the waiting list to open an account.

A progressive regulatory regime and a deep talent pool means that London is creating a fertile environment for challengers in the retail banking industry. Backed by Passion Capital as well as the crowd, this particular challenger with its hot coral bank card looks set for dizzying growth. 

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