> Monzo and Starling are startup UK banks and I think both spent under $10M to get to the "minimum viable bank" state. Not sure about that... Looking at Monzo'

> Monzo and Starling are startup UK banks and I think both spent under $10M to get to the "minimum viable bank" state. Not sure about that... Looking at Monzo's Wikipedia page, > In February 2017, Monzo raised £19.5M [...] > in April 2017 their UK banking licence restrictions were lifted, enabling them to offer a current account So they only became a "real" bank after having raised substantial capital.