Revolut rival Monzo to use Ireland as its gateway to Europe

Firm will establish an office here as it seeks to expand in the US and Europe

The digital bank aims to take on Revolut and N26. Picture: Getty Images

British digital bank Monzo said it is in the early stages of setting up an office in Ireland which it will use to expand into Europe competition with other popular mobile banks like Revolut and N26.

Publishing its annual report, the firm said it now has 9.7 million customers and deposits grew by about 88% to £11.2bn (€13.12bn) during the year.