Monzo chief government TS Anil was requested to step down by the fintech’s board amid issues over worldwide enlargement and his post-IPO dedication, based on reporting from the Monetary Instances.

The FT experiences that tensions constructed between Anil and the board earlier than October’s considerably unexpected announcement that former Google government Diana Layfield would take over early subsequent yr. A key subject, apparently, was IPO timing. Anil pushed for an earlier itemizing than some administrators wished and signaled he may go away quickly after, whereas board members sought extra time to increase internationally and develop the corporate’s valuation. (Monzo was reportedly valued at $5.9 billion in an October 2024 secondary share sale backed by Singapore’s sovereign wealth fund GIC and StepStone Group.)

TechCrunch sat down with Anil in individual this summer season, and we mentioned the opportunity of Monzo going public in 2026, a timeline that now seems to have been on the heart of boardroom disagreements.

Underneath Anil’s management since 2020, Monzo reportedly tripled its buyer base to 13 million and posted file £60.5 million pre-tax income. However practically all prospects stay UK-based after the corporate’s U.S. enlargement stalled in 2021. We talked with Anil about this, too, throughout our sit-down.

Now Layfield, who spent 9 years at Google and greater than a decade at Customary Chartered (of which Anil can also be an alum), will oversee Monzo’s worldwide technique and information it towards its eventual public itemizing.

We’ve reached out to Monzo for extra info.