3 ms·
Not so sure. In the UK we had Metro Bank a US funded startup bank, started a couple of years ago.
by justincormack 13y ago
Not so sure. In the UK we had Metro Bank a US funded startup bank, started a couple of years ago.
- jackgavigan 13y agoIt's been a long, hard slog for Metro Bank. To date, they've raised £641m (that's over $1bn) in investment and racked up total cumulative losses of over £130m ($220m). And don't forget Metro didn't build their own platform - they outsourced all their technology. Despite their apparent enthusiasm (see links at the bottom of this post), I don't think VCs are ready to sink over a billion dollars into a single startup, even if it is a bank. They're looking for billion-dollar exits like Facebook and Whatsapp, not a $1bn investment with a $100+bn exit. VCs Start Pining to Own a Bank - http://www.bankinnovation.net/2014/02/vcs-start-pining-for-a-bank/ http://www.bankinnovation.net/2014/02/vcs-start-pining-for-a... “I am dying to fund a disruptive bank.” - Marc Andreessen - https://twitter.com/pmarca/status/432651247909208064 https://twitter.com/pmarca/status/432651247909208064