UK digital bank Monzo is reportedly in early-stage discussions with Brazilian fintech giant Nubank over a potential combination that could value Monzo at between £8 billion and £10 billion ($10.6 billion–$13.25 billion), according to a report by Sky News cited by Reuters.The potential acquisition is one of two options currently being explored by Monzo's board. The alternative is a new funding round that could value the London-based digital bank at more than £8 billion, with the proceeds expected to support its expansion into mainland Europe.Both Monzo and Nubank declined to comment on the reported discussions.Nubank, headquartered in São Paulo, is listed on the New York Stock Exchange and has a market capitalisation of approximately $65.5 billion. Monzo, meanwhile, reported a pretax profit of £87.3 million for the year ended March 31, compared with £60.5 million a year earlier. Its revenue increased to £1.7 billion from £1.2 billion during the same period.Monzo was last valued at £4.5 billion in an employee share sale in October 2024, which attracted investors including Singapore's sovereign wealth fund GIC and StepStone Group.The potential transaction would represent a significant increase in Monzo's valuation and could mark a notable development in the European digital banking sector, although discussions remain at an early stage and no deal has been confirmed.Source: ReutersNoYesBanking29 Sep, 2026