Global law firm Ashurst has advised digital-first bank Monument, who has today announced that its licence has been extended by UK regulators allowing it to operate as a fully-licensed deposit taking bank.
The removal of all restrictions marks the successful completion of the last stage of the licensing journey whereby Monument finished building the infrastructure and processes, expanded its team, and demonstrated to the regulators that it is ready for launch.
Ashurst advised Monument on its Series A funding round earlier this year, as well in a variety of other matters.
Tech M&A partner Jonathan Cohen leads the team advising Monument, and has been supported by regulatory partners Etay Katz and Bradley Rice, senior consultant Nicholas Stretch and senior associate Rebecca Servian in the incentives team, partner David Futter in our digital economy team and associate Jasmin O'Reilly in the corporate Tech M&A team.
"It is exceptionally rewarding to have had the pleasure of working with the Monument team from before their Series A fundraising to reach the stage where they are now a fully-licensed bank with over £60m of capital raised to date" Jonathan Cohen said. "Our tech M&A capability is focused on guiding and supporting clients through their life cycle to execute on their strategy, and we are thrilled to have been able to assist Monument in reaching this significant milestone today. We look forward to continuing to work with Monument as they continue to develop their innovative, digital-first bank offering."
