Nu Holdings, Nubank’s parent company, said on September 30, 2026, that it was “not pursuing a transaction with Monzo.” The statement followed a report that the companies had discussed a possible acquisition, but it did not confirm a formal offer, an agreed deal, or that Nu’s share-price decline caused its decision.
What happened between Nu and Monzo?
Axios reported on September 28, 2026, that Nu had held talks to acquire Monzo. Two days later, Nu Holdings filed a statement with the U.S. Securities and Exchange Commission saying that, “while we have a great deal of respect for Monzo, the Company is not pursuing a transaction with Monzo.” The filing does not say that formal negotiations were halted; it states Nu’s position on pursuing a transaction.
Nu’s statement is the company’s official position. The acquisition discussions themselves, as described in the available accounts, were reported by Axios; the sources do not establish an agreed transaction. Monzo’s position is also unconfirmed: the cited reporting does not include a direct Monzo statement confirming negotiations or explaining its response.
What valuation was reported?
Axios reported a potential valuation of £8 billion to £10 billion for a possible transaction. That was a reported range, not a confirmed bid, agreed price, or figure disclosed in Nu’s SEC filing. Axios also reported that Monzo was weighing options including a sale, new funding, or a minority stake sale to private equity; those were reported possibilities, not confirmed outcomes.
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Axios reported Monzo’s FY2026 revenue at £1.7 billion, up 39%, and adjusted pretax profit at £172.6 million, up 20%. Those figures are attributed to Axios and were not independently verified against Monzo’s annual report in the sources cited here.
What did Nu say about its priorities?
In its September 30 filing, Nu said it was focused on deepening its position in Brazil, scaling in Mexico and Colombia, and building its presence in the United States and internationally through Nu Global. It described its investment decisions as weighing strategic fit, expected returns relative to the company’s cost of capital, long-term value creation per share, and the management and financial resources needed to execute its priorities.
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The filing does not say that those considerations—or any particular one of them—caused Nu not to pursue a Monzo transaction.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How did Nu shares move?
Reuters reported that Nu shares had fallen earlier in the week amid the media reports about the possible Monzo transaction. After Nu’s September 30 statement, the shares were up nearly 7% in New York trading, according to Reuters’ October 1 account carried by Euronext Live. That is dated market context, not a current share-price quote, and the reported movements alone do not establish what caused them.
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Sources
- Nu Holdings Ltd., Form 6-K, “Statement Regarding Media Reports,” filed September 30, 2026 — Nu’s statement and description of its priorities.
- Axios, “Nu in talks to buy Monzo for up to £10B,” September 28, 2026 — reported talks, valuation range, Monzo options, and financial figures.
- Reuters, “Brazil’s Nubank says it is not pursuing deal with Monzo,” carried by Euronext Live, October 1, 2026 — Nu’s statement and reported share-price context.
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