South Coast: Lester Aldridge advises Monzo Bank on HQ lease

South Coast law firm Lester Aldridge has helped Monzo Bank to secure the lease of new central London headquarters at Finsbury Square.

Monzo is a pioneering mobile-only online bank founded in 2015 and one of the UK’s tech start-ups leading a banking revolution. Mark Benham, real-estate partner, along with his Bournemouth-based real estate team, advised Monzo on the deal.

Monzo’s expansion into the new 40,000 sq ft headquarters will help the company grow its current 500,000-strong customer base, taking them one step closer to reaching its 20-year vision to transform banking for one billion customers worldwide. Monzo’s most recent funding round raised £71 million from investors who recognise Monzo’s potential to harness the emerging 'Open Banking' movement to become an intelligent hub for a variety of financial services.

The bank’s head of legal and compliance, Dean Nash, is an LA alumnus. Nash commented: “I’ve known Mark Benham for about 15 years, since we worked together at Lester Aldridge. His team has advised Monzo on both of our head office moves. It’s important to our business that we work with advisers who we trust and who can offer prompt and practical advice. For those reasons, we have used Mark and his team at LA for property advice since shortly after Monzo’s inception and will continue to do so as Monzo grows.”

Benham commented: “It has been a pleasure working with Monzo on its latest expansion. It is also exciting to be involved in the journey of one of the UK’s brightest FinTech businesses. I look forward to helping Monzo further as it continues to challenge the traditional banking model.”