Alpen Capital advised Monument Bank Ltd, UK in raising the second tranche of its Series B round from Dubai Investments PJSC (“DI”). This tranche of £16.0 mn follows on from the first tranche of similar amount completed in February 2023, when DI had acquired approximately 9% equity of the Bank.
As a strategic investor, DI has now increased its investment in the Bank. Monument has successfully closed its Series B fund raising round, having raised over £ 40.0 mn from existing and new investors in this round.
Monument is the first and leading digital bank focused on the very large but overlooked ‘mass-affluent’ segment in the UK. With a full banking license from the Bank of England, in its first year of operations Monument acquired assets of c.£400m, deposits of c.£425m and approximately 8000 customers. Monument is growing very rapidly, leveraging its modern, best-in-class technology, superior client service and exceptional Team and renowned Board of Directors. The highly experienced management continues to lead the bank successfully.
Dubai Investments PJSC, established in 1995, is one of the largest investment companies in the UAE, listed on the Dubai Financial Market (DFM). With an 11.5% ownership from the Investment Corporation of Dubai (ICD), a paid-up capital of AED 4.25 billion and total assets worth AED 22 billion, the Company’s diverse portfolio consists of 30+ wholly and partly owned companies in sectors like real estate, building materials, construction & contracting, financial services, healthcare, and education, among others.