Cofounder and deputy CEO of Monzo is leaving
Monzo cofounder and deputy CEO, Paul Rippon, is stepping down from his role at the UK challenger bank to spend more time with his wife Debbie and their 300 alpacas.
In a LinkedIn post, Rippon stated that he is leaving the company after 27 years in the financial services industry and working away from home for the past 8 years. He will spend most of his time with his wife at their farm in Northumberland while doing feed rounds, hosting alpacas walk ‘n’ talks and driving his tractor.
In other Monzo-related news, the company shared its 2019 progress and future plans. The online banking platform grew its customer base from 1.36m users in January 2019 to 3.6m users in January 2020. Monzo tripled its employee base, going from 500 to 1,500 employees who are based in London, Cardiff, Las Vegas, Los Angeles and other parts of the world. In terms of products, the company plans on launching new paid accounts that give users “more from Monzo” such as better tools to help people manage their money and insurance.