Challenger bank hits £20m landmark

Challenger bank Mondo has announced that over £20m has now been spent via its card

The bank, which does not charge fees for overseas spending, revealed that around a quarter of the £20m had been spent abroad.

USA, France and Spain were the most popular destinations, though Mondo has now been used in over 130 countries around the world.

Daily spending through Mondo also rose from approximately £80,000 in April to over £200,000 in August.

Meanwhile, consumers have now used Mondo cards for 128,159 transactions with Transport for London.

Tesco proved to be the most popular supermarket for Mondo customers, with a total spend of £745,146 since the card launched.

Online sales through Amazon also reached £260,288.

In June, Mondo announced plans to change its name after receiving a legal challenge from an undisclosed company. 

Keywords: Bridging Finance, Commercial Finance, Bridging Lender, Commercial Lender, Alternative Finance, Broker news, Bridging loans, Mondo, challenger bank,

Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/challenger-bank-hits-163-20m-landmark