Monzo announces plan to grow Dublin team to 70

Move follows digital bank receiving a full European banking licence through the Central Bank of Ireland

Trade

Pictured: Denis Curran, IDA; Elaine Deehan, Monzo; An Tánaiste Simon Harris; and Michael Carney, Monzo

Digital bank Monzo is to grow its Irish team to 70, almost doubling the headcount by mid-2027. This builds on the bank’s continued investment in Ireland with the latest capital injection of €71 million, bringing the total to €83.5 million over the past two years. The investment underpins the expansion of its Dublin-based European headquarters and the creation of new jobs across the business.

Monzo’s European expansion is led by Michael Carney, Monzo’s EU CEO, as the bank prepares to serve Irish customers and businesses. Carney is supported by EU chief financial officer Nicola O’Brien, EU chief operating officer Sonia Flynn, and country manager for Ireland Elaine Deehan.

The new roles will span operations, risk and compliance, technology and engineering, financial crime prevention and product development, reflecting the breadth of capabilities required to operate and scale a fully licensed digital bank within the EU. 

The announcement follows Monzo becoming the first digital bank to secure a full European banking licence through the Central Bank of Ireland in December 2025, enabling the company to bring its fully regulated personal and business banking products to customers across the EU, starting right here in Ireland.

Supported by the Irish Government through IDA Ireland, the expansion will support delivery of Monzo’s core digital banking offer for individuals and businesses, including everyday current accounts, children’s accounts payments, savings products and financial management tools designed to give its customers greater control and transparency in managing their finances.

Michael Lohan, CEO of IDA Ireland, said: “I very much welcome Monzo’s decision to locate its European Headquarters in Ireland. Monzo is the first digital bank to secure a full European banking licence through the Central Bank of Ireland. 

“This decision is a strong vote of confidence in Ireland as a location for International regulated financial services where companies can deliver products and services across the EU from Ireland. It also speaks to Ireland’s strong capabilities in international banking and digital technology. I would like to wish Monzo every success at its scales its team here in Ireland.”

TechCentral Reporters

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