Monese, a British digital bank founded by Norris Koppel, has raised $10m in funding from several investors to expand its services across Europe.

The investors include Anthemis Exponential Ventures, Korea Investment Partners and STE Capital. The investment is Korea Investment Partners’ first in a European startup.

In addition, early backers SmartCap and Seecamp also invested in the startup. The latest funding brings the total amount raised by the digital bank to $15.8m.  

Monese CEO Norris Koppel said: “The money raised will be key in helping us launch Euro current accounts and become available to customers in other European markets as well as a host of new features like direct debit and credit services to ensure customers have everything they need to stay in complete control of their finances.”

Monese opened doors in the UK in September 2015. The business signed up over 40,000 customers from 179 countries since its launch, specifically serving immigrant and expatriate customers.

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By GlobalData