The Monzo board is said to have pushed CEO Anil for IPO timing

Monzo CEO TS Anil has been asked to step down by the fintech organization over concerns about its international expansion and post-IPO commitment, according to reports in the Financial Times.

The FT reports that the disputes between Anil and the board before October unexpected announcement that former Google CEO Diana Layfield will take over early next year. The big issue, obviously, was the timing of the IPO. Anil pushed for an earlier listing than other directors wanted and indicated he might leave soon, while board members sought more time to expand globally and increase the company’s value. (Monzo is said to have been valued at $5.9 billion in a second sale in October 2024 backed by Singaporean investment fund GIC and the StepStone Group.)

TechCrunch sat down with Anil Maso this summer, and we discussed the possibility of Monzo going public in 2026, a time that seems to be at the center of boardroom debate.

Under Anil’s leadership since 2020, Monzo has reportedly tripled its customer base to 13 million and recorded a pre-tax profit of $60.5 million. But almost all of the customers remain in the UK after the company’s US expansion is halted in 2021. We talked to Anil about this, too, when we sat down.

Now Layfield, who spent nine years at Google and more than a decade at Standard Chartered (of which Anil is also an alum), will oversee Monzo’s global strategy and direct it to its public listings.

We’ve reached out to Monzo for more information.