Monzo CEO Tom Blomfield sat down with Reuters to talk about the progress the digital bank has made and the plans that are ahead for 2020 and beyond; the company is looking to hire 500 more staff to bring their total headcount to more than 2,000; Blomfield also had some comments about the recent news with N26 leaving the UK market; “In the US we are laying the groundwork, but not looking for explosive growth,” Blomfield told Reuters. “The lesson there is if you take a product and just move it across unchanged it doesn’t do well-N26 didn’t connect.”; Monzo expects to hit more than 5.5 million customers by end of 2020 and relaunch a paid for account in Q1 after learning lessons from the previous paid product; while the bank is not profitable to date, they expect to reach profitability within the next few years as they eye a potential IPO. Altfi
