The fintech startup’s boss always hoped it would make waves, but has only recently realised what his own career has meant to people of colour in banking
Sitting in Monzo’s headquarters, just a stone’s throw from Liverpool Street station in London, its chief executive, TS Anil, is unwittingly defying fintech stereotypes.
That is partly the product of nearly 27 years in the sector, spanning big names such as Citi, Standard Chartered and Visa in markets including India, Japan and the US, which makes him one of the most experienced bosses leading a British fintech company. And unlike his nearest rivals at Starling and Revolut, he is the only non-founder to be running one of Britain’s first wave of so-called neobanks, signalling that the capital’s once cutting-edge startups may be beginning to mature.
It has yet to turn a profit, but following in the footsteps of its two closest competitors, Monzo is aiming to break even on a monthly basis later this year as Anil predicts another surge in revenues, up from £79m for the year to February 2021. I grew up in a country where everybody was a person of colour. And that’s a crazy point of privilege – because you don’t realise that you’re differentWhile rumours about a stock market listing continue to fly, Anil, as might be expected, tempers expectations. “Look, we’re going to make a great public company one day,” he says, quickly adding that any decision on a flotation has been pushed back to 2023 at the earliest.
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