Tera Ventures and founder of Monese to buy out the startup's main business line for retail banking
Estonian Tera Ventures and Monese founder Norris Koppel will acquire the startup's retail banking business. Monese's previous major investors have exited the startup. They include Swedish VC Kinnevik (which led Monese's $60M Series B in 2018, after which it held a 21% stake in the fintech), US payment platform PayPal, British Airways owner International Airlines Group and London-based VC Augmentum Fintech (all of which participated in Monese's $60M Series B), and London-based financial services organization HSBC (which invested $35M in 2022).