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TS Anil

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2025-02-13
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2025-02-13
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  1. “So that's a low bar. I don't think there's a one track. You could play any of 500 tracks that would do it for me. But different question is if there's the track that sort of touches my soul, that's a different There's a few, but I guess the one I'm going to go with is, you know, Eddie Wedder, Pearl Jam, who did this insane collaboration in the 90s with Nustrat Vateali Khan. You know Nusrat is, Nustrat is a Pakistani Sufi music singer, probably one of the best musicians of the 20th century. Pearl jam, the Eddie Wedder Grunge Rocker from Seattle, and Sufi Kawali singer, Nusra, collaborated on this album, which was a soundtrack of the movie Dead Man Walking. And there's a bunch of tracks in that which are amazing. The face of love, the long road are both insanely beautiful tracks that never fail to uplift me.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Tell me a song or a track you'd recommend I listen to now. I wish people ask me that more often. Always have music thing.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “So that's just it. You have to have a really clear sense of scale of ambition. You have to have a really clear sense of the product vision that you want to build out. But on the journey to getting there, you hope like hell that you only inflect to raising the ambition. It's like rock climbing, right? You're always focused on the next ledge. You know that you want to get to that summit, but your focus on the next thing and the next thing, that's exhilarating, right? It's fun to take stock for a minute and see how far you've come, but really what you're thinking about is the next thing.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “A lot feels to me like it has not changed. The size of my ambition for what we think Monzo will be has not changed. If anything, it's only been amplified. At each point of inflection in the business, what we have done as a team is bent the curve upwards.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Proud of the team. I inherited some amazing people that I got to partner with. Jonas, the co founder of State on a CTO, Sujata, the CEO who joined us right after I'd started. And all of the amazing people that we've hired since then and the amazing original monzonauts that are still here building out the dream. I'm insanely proud of all of us. The odds were decked against us. The naysayers were having a field day. And it's amazing to actually build out what we've built.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “But work life is a part of an overall value system because ultimately I believe that if you hire amazing people, put them into a culture which really values them as an inclusive culture, people work incredibly hard against that mission. And it's a lot of things that add up to this culture where you care about customers not because they're a number, not because they're an ARPU, not because they're sort of a stepping stone out of antimetric, but because you say, okay, let's build it right. And I think if you get that magic right as a company and as a team, the outcomes of that are the quality of the business that we're building. I mean, the proof points are here, right? If I was saying this to you four years ago, you'd have been right to be even more skeptical and say like, what the hell, they're never going to happen. But look at where we are now.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “So, I mean, here's the thing there's a false binary in what you're saying, right? Because there's this belief that a values oriented culture can't also be a high ambition, high-growth culture. And I actually reject that binary because I think”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “But many of those are great stories. We actually recount and tell ourselves, remember that, and my team will say to me, you should never have gotten out of bed for that call, right? You should never have gotten out of bed for that size a check. And I'd be like, dude, the question would be, what would I get into bed for? Not what would I get out of bed for even, right? Because you just had to do what you had to do. So no event in isolation may feel like that, but that phase feels like type 2 fun. That phase of the whole world's sort of crashing around you, there's not many believers and yet you have this conviction that you're going to build this thing out with this amazing team with you. And as I was saying earlier, you sort of see through the storm, it's an extraordinary privilege to have an experience like that.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Oh dear God, there's so many investor that I would have spent months working on in 2020. And they're that close. And I know that it's going to be pivotal for us and it changes our story because on the back of that we'll be able to raise more capital. And they don't pull the trigger. And that would be just like, and it always feels personal. It is personal. So yeah, no dearth of those in any capital raise, especially if it's...”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Quite literally, the way I said, like this idea of type 1, type 2 fun for me would be a joke about it and say, oh, that's definitely going in the book. That's going to make a great story. It feels like shit right now But you abstract yourself out of that moment and actually look at it with a hindsight”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “I had this thing that I would joke with the team and with everybody at the time, this idea of what type one fun and type two fun are. So type one fun is when you're having fun in the moment, right? Great concert, great party, great whatever. Type two fun is like that camping trip gone bad, which you know is going to be an amazing story later. And you know it's going to be fun when you look back at it and recount it to yourself and you remember that you lived through it and all of all of the crazy that happened. So yeah, every day was some combination of type 1 fun and type 2 fun. Every single day I'd keep score of how many face punches did we get today? How many body blows did we get today? Because when you're in an existential time for a company, there's all of that happening all the time.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “She thought it was crazy. You know, she wasn't sure which was the bigger question to ask me why I was doing it or how I was doing it because I would start my day at two or three every morning, which is already 10 o'clock or 11 o'clock in the morning here in London.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Cliched material Because it's magical design meets magical functionality, meets like extraordinary business at scale, the most valuable company in the world, and still a brand that inspires intimacy and trust with everyone. You asked me about Apple Watch coming in. I'm in that ecosystem. And I love being in that ecosystem. It connects across my life to the whole point about an operating system. It does in the background so much for me in terms of protecting my data and making me feel like I can trust them. All of that comes together there.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “So, this is not one that weighs on me or anything, but it's obviously one that I think about and I'm learning about more and more decision. It's an unmade decision, timing, location, all of it. And so we know we have to make it at some point. It's not one that weighs on me, but it does require that we think diligently about it in the coming months and years.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Aim to build a global fintech company that would be extraordinarily mission oriented and a generational company that is not just amazing for customers, amazing for the economics of it, but also amazing for its employees.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “No, I could, but I think that that trope about it being a lonely job is real. I'm surrounded by the best people, right? I have an amazing village, and yet I think any CEO role has an element of loneliness in it.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “So, you know, when you're building a business with as much ambition as we are, there's always naysayers, right? So the journey of people disbelieving in the early days of Monzo was, oh, this company's never going to make it. You just have to look for an easy way to sell the company and get out. Then there would be things like, oh, it's going to be a great and cool app, but really like a few million customers and that's it. Then it was, well, you have customers, but you'll never make money, or you have revenues, you'll never make profits, and so on and so on and so forth. And it's been fun proving each of those naysayers wrong. So even now, when I say to you that when I look ahead, I think globally there will be a handful of companies only in the next decade that will truly be doing this business at scale and managing people's money, transforming that relationship that customers and money have with each other. And on the back of that, build businesses with extraordinary economics and growth. And we're playing to be one of them. Saying that out to you, there's going to be people that will naysay about lots of bits of that. It's going to be fun to prove that set of them wrong as well.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “So at the cusp of in the next round, whenever we do it, we'll get the big institutional investors. Right now we have a few, we have GIC and others who are institutional investors, but I think our journey looking ahead is not VC names.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “Because anybody looking at our story by then could see the fact that we had been on a doubling KG revenue trajectory for a while. Anybody looking at the business could see everything that we talked about in terms of customer engagement and love wasn't warm fuzzy fluffy, but meant that our ARPUs significantly higher than any competitor. The stickiness of revenues is higher than anybody else. Could see the dynamic of that business, could see that we're growing users as aggressively as we are. But it's not because I'm burning cash. It's because people are recommending us. So the dynamics of the business were clear. Things that we've been saying for three or four years were not just narrative, but were visible in every way you cut and looked at the business. And so our focus was really on getting quality investors, right? It wasn't just about the color of money, it was about who do we want on the journey with us.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Not wrong, you know, in an industry where everybody likes to talk up the valuations, the interim valuations, of course, it's a thing and you need to manage that. You need to explain to people why. But importantly, as the leader, you have to see through the storm, to the business you're building on the other side of it. And this was a storm. And we needed to know that we will write this ship. But really, this is not about safe pairs of hands writing the ship, but it's about building that business that you're going to build on the other side of it. So of course it's hard. to pretend otherwise would be silly but point is you have to play the long game and you have to have that conviction as the leader that you're going to get it done because everybody's picking up on your energy everybody's picking up on the cues of your conviction about it”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “I mean, we did the downtown within minutes after I start three weeks after I started. And then we topped up that downdrand over the next six months”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Sure, it was difficult in some ways early on, but it was difficult only in that I was an anomaly. Most people, investors included, were used to seeing a 20, 30-year-old in a founder pitch mode. In that sense, hard because there was an expectation of what they expected to see. And then I rock up and it's different, earning credibility and trust takes a different path. It was easy to see me as someone with lots of experience in big companies and a safe pair of hands, but would I 10x the company? And the team needs to believe that. Investors need to believe that. So hard in that sense, sure. But what's life without taking challenges like that on?”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “How about that? Oh, so it's all the rage that debate about founder mode and so on. And is there survivor bias in the analysis and how people talk about it and so on? But here's how I think about it. I think to build a great company at scale for the long term, a leader has to be good at a few different things, really good at setting the ambition for the company and a product vision to go there, be able to operate really close to the product and the user experience and the way value is created. And then three, be able to scale execution, which means build the right leadership and the team and the culture that allows you to continue to scale at bigger and bigger numbers. So you have to be good at all three. And some of these qualities get dubbed as one thing or the other. I think a debate about this is the only thing feels to me like a trope, right? I think of it like a trathlin, right? You have to swim bike and run if you want to win this at scale. So any discussion that feels like”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Say it in longer ways, but that's the heart of that one. But to the tropes was this, you know, you asked me this thing earlier as well about”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “This one, you know, I genuinely don't think I have a better answer than to say we don't have to make a decision today, and we'll make it when we need to make it. That's the honest answer”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “Both the last government and this government are doing a bunch of things to improve that. There's been no dearth of policy changes that have come about and so on. And we have the gift of, I said, we have the gift of time. We have the gift of choice as well. And we'll wait and watch. There will be a time when we need to make that decision. It's not now. You asked me about tropes, by the way. So we could go back to them.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “It's too early for us to call it Harry. I mean, that's the honest answer. I mean, I could say it lots of different ways, but could you paint a picture?”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “I knew you'd ask that. Of course, it's the question you need to take a swing at. And you know exactly what I'm going to say.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “I just Sure So I guess it's you're saying why ever, not why now? So, yeah, why ever? I think it's a good question and to the extent that that's not what we're obsessing right this second. There is a why ever thing that we should answer as well. Yeah.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “Two things. One is we already know how to operate in a highly regulated context. So the gap between a tech company like us versus another tech company that just doesn't have to deal with scrutiny is pretty wide. So the gap for us from here to becoming a public company is not insane. Let's start there. But why become a public company at all? I mean, you and I could come up, we'd take some time to come up with five names of great brands, great companies that we respect that are not public. So I feel like at some point it's good for the business, it's good for investors, it's good for the brand to eventually become public anyway.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “Have the luxury of time? We have the gift of time because we have plenty of capital to build out our ambition. And not only that, we have extraordinary supportive investors, patient, but also supportive as it would give us more capital if we needed it. So it's not a thing for its own sake. We know we'd make a great public company one day, and we'll get there when we get there”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “No, disagree. It's a difficult industry. If the only thing that mattered was the product, how do you reach customers? So you have to create the virtuous cycle. In our case, that virtuous cycle is the virality of it, is the tools that make people want to talk about us. So you have to build a great product so that you create the love, but then you need things to happen around that. So it's not just about the great product”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Of an industry where love and banking, love and financial services just don't go in the same zip code. What we're building this consumer platform where that engagement is measured in trust and love and doing more with Monzo. And on the back of that, we earn the right to do so much else for customers.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “But that incredible customer base is not an accident, right? And that's the point, it's come about because we have built that love and trust, it's because warm, fuzzy words like mission are not warm fuzzy words for us. It's about saying like, how does it actually connect with the customer? What's the real problem we're trying to solve? And how do we stay maniacally obsessed with that because it drives all those second order effects? But back to your question about engagement and why is it important? So that's one, right? Creator engagement is greater economics, ARPU, et cetera. There's a second piece of this because what we're effectively building out, Harry, is a consumer platform where engagement is measured in the trust that customers place with Monzo. The love that they have for Monzo, by the way, here's a trivia question. Do you know how many times more likely it is that a customer uses the word love when they're writing a review about Monzo? Seven times more likely than anybody else. And this is in the context of the...”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “Right, right. So that's not the thing. Engagement is how much do you use Monzo? We don't look at it, so we look at it in terms of Weekly transacting usage, not just revenue active. You could have a lazy balance with us and be making money from Monzo. I don't think of you as an active customer. Are you using the product? So that's engagement. Why is that important? Well, because it's correlated with the hierarchs that you see. Those are our average RPUs. You can imagine what the highly engaged customers, even within the base when you disaggregate that, what those RPOs look like. So engagement drives greater economics for the product itself, but also the ability to buy more product from Monzo. An example, we talked about investments a lot today, but when we launched our investments product, I literally did one press interview. And by that evening, we had 150,000 customers add themselves to the waiting list for the Monzo Investments product. Distribution is the outcome of something. And I'm saying that it's the outcome of engagement and trust with us.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “So engage, so, two things. One is the way we define engagement is usage. I'm not defining engagement as how much time do you spend thinking about your money. I'm defining how much time.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “It's different countries with different makeups of what attracts customers, what is the real pain point they feel, what segment is more attractive or more underserved, getting those nuances right is not trivial. Here's an alternate product strategy. If we were playing to have a thin layer product that was thin ARPU, scaled to lots of customers, but fundamentally met a very narrow need, you can do that a lot more easily. But what we're looking to build is this idea of a business with high engagement with customers, extraordinary economics up and down the P&L, and in sync with the mission that we have, you end up at a different place in terms of how you think about the strategy, right? You don't think about planting vanity flags, but you think about it in terms of how do I build business of scale everywhere.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “Yeah, so I was answering those two criteria, I was answering in the context of where do we want to enter and win, where do we want to domicile out of? And Ireland is an attractive market. It's not the biggest market. And so, of course, we want to do more than that. We'll start there.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “Early to answer that question, Harry, but let me also make public about the fact that we're choosing Ireland as our beachhead into Europe as the regulatory regime we want to work with, and that's where we want to domicile out of.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “I think along archetype, everything, right? We want to be big across Europe sequencing it as a function of where do we think size and odds of success sort of match up better. But the thing that we will do in the US, in Europe, just as we've done over here, like what won't change? Build a single global tech stack on the back of which we can build amazing products and ship them. Number two, build close to the customer. Understand what the customer wants and build what's right in that context”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  41. “Here's the thing about Europe. Obviously, it's easy to see it as a single market And it is in some ways, and it's not a whole bunch of others. When Europe is a different question than which markets and so on, that's the work we're doing right now.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  42. “The other side of feeling like we've got the high conviction product. Absolutely, not shy to invest. Not shy to aim for big numbers and build an extraordinary business in the US, just like we have over here. But it's a little bit cart before the host to say, why aren't we spending 20 today?”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  43. “On a snapshot basis this year, it's more like three and seven and 90. Because Because I don't need to spend that just yet, right? I could take the opposite approach that says, no, no, no, I want to show user growth. I want to show numbers and I want to sort of manage this for a short-term optic.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  44. “Yeah, so I think what the US versus. So, Europe is still bailing out the strategy, still working with the regulators and sort of building out what we think the game looks like. In the meantime, we have people building product for the US. So in some senses, this is back to my play across Horizon's point, right? Because you're planting flowers and bushes and trees all the time. It's private life.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  45. “So, I think it's possible to be insanely ambitious and very disciplined at the same time. So it sounds like a catch-all, but let me explain what not doing that would look like. Not doing that would look like we look at the US and say we have an okay product. Now let's just go buy growth. So that's being ambitious but not being disciplined. We're saying we're going to build a great product first, not burn a whole bunch of cash on the way to getting there, not painting buses and doing crazy things anytime soon. Build a great product. see that customers are using it. It's resonating with them, and then sure as hell, right? Be incredibly ambitious about building scale in that market.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  46. “I mean, credit is the obvious hypothesis, as I said, right? Because if you look across the fintech industry, both in terms of how people are monetizing it and what's driving user growth, credit and its adjacent products like early wage access and so on, seem to be a big part of the industry. So that's what we're sort of working on and getting our heads around what that real thing there is and what's the best product for the customer in that context.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  47. “No, I don't think so. It's a very credit hungry market. It's a market where a lot of people have been trained to apply for credit. And that's the hook product. I mean, ultimately, we think about it across, you know, why will they come? Why will they stay? And then how do we make money? We're still early days in sort of pounding the table and saying this is the high conviction answer to that question.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  48. “Yeah, so the honest answer is we're still in a bit of discovery mode on that why will they come question? Because ultimately, is anything the same as the same as the s”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  49. “You have is really great fintech companies that have solved thin slivers of needs, right? So for P2P, there's a Venmo or there's a cash app for point-of-sale lending, there's someone else, for something else, there's someone else. So it's a very fragmented fintech industry, but which is where we see the opportunity. The idea of bringing it together in a single place for the American customer seemed very attractive.”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source

  50. “Interesting, Harry. So, I've spent a lot of time looking at talking to different US fintech companies. There's lots of hypotheses. I have a couple. One is too much cheap capital chasing US fintech. Because what that, I think, ended up doing was create a context where most fintech entrepreneurs felt like they were being incented to grow users. And the number of businesses that we look at in the market, which is a mediocre product, sort of fueled by CAC marketing dollars, but the actual business, the actual product doesn't resonate. The actual product is not doing what they want it to do. And the monetization is coming from early wage access or like one piece of it as opposed to all of the other sort of talk about the business is staggering. So I feel like money chays the wrong things and people sort of built businesses that were sort of cactuel businesses in effect. But there's another reason, right? Which is US fintech has been a developed industry for a while. In being a developed industry for the last couple of decades,”

    2025-02-13 · The Twenty Minute VC · 20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo · IDENTIFIED FROM THE TRANSCRIPT · source