Monzo co-founder exits to spend more time with...alpacas

By Daniel Lanyon on Friday 10 January 2020

Editor's PickDigital Banking

The digital bank was launched five years ago back in 2015 and now has 3.6 million customers.

Monzo co-founder exits to spend more time with...alpacas
Image source: Pexels

Monzo co-founder and deputy CEO Paul Rippon is standing down from a formal role with the digital bank, just shy five years since its launch.

Rippon, who is 48 and a financial services veteran, says he will be focusing mainly on a new venture set up by his wife focusing on alpaca farming in Northumberland.

In a post on LinkedIn, Rippon said: "Why did I leave? Simple, to go and enjoy life. At 48 years young I’ve been working in financial services for 27 years and working away from home for the last 8 years. Building a fast-growing bank takes its toll and even reducing my ‘work hours’ didn’t reduce the cognitive and emotional overhead."

Rippon (pictured right) started Monzo after leaving rival Starling Bank where he was chief risk officer from 2014-15. Previous to this he was head of operations at AIB.

At Monzo, where initially he was chief risk officer also, he led the firm's acquisition of a banking license.

Rippon said: "It’s been my privilege to co-found Monzo back in February 2015 and serve as Deputy Chief Executive. It’s now time for others to enjoy the next stage of the journey to help money work for everyone."

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.

Companies in this Article:

Starling Bank

More like this:

Exclusive: Tide scoops up Funding Options in its first acquisition

Editor's Pick

29 November 2022
Oliver Smith

The AltFi Awards 2022: Here are the winners!

Editor's Pick

2 December 2022
Oliver Smith

Zilch poised to axe 10 per cent of workforce

28 November 2022
John Reynolds