Monzo is reportedly set to hit a £4.5 billion valuation as the digital bank gears up for a secondary share sale.
Staff have been offered the chance to sell their shares in the bank, according to Sky News, with tens of millions of pounds worth of stock likely to be offered up.
Existing investors StepStone Group and the Singaporean sovereign wealth fund were said to be among those in the running to build their stakes in Monzo through the sale.
This would follow a fundraising round earlier in the year, through which Monzo issued £500 million worth of new shares to a group led by Google-owned Capital G.
That placing valued Monzo, which was founded in 2015, at £4.1 billion.
Monzo’s roughly 10 million customers means it ranks as Britain’s seventh-largest bank, with the company also employing over 3,700 people.