The round also saw existing investor Dubai Investments acquire an additional 7.68% equity stake in the challenger, increasing the group`s holding in the bank from an initial 9.25% to 16.93%, subject to regulatory approvals.
While the latest funding has taken Monument’s total capital raised to over £103 million, Sky News reports the bank is already looking to kick off discussions for its Series C funding round, this time aiming to secure at least £100 million.
