Monzo co-founder joins new challenger bank GBB as non-exec Chairman

GBB, one of the UK’s latest aspiring challenger banks, has landed Monzo Bank’s co-founder Paul Rippon as its non-executive chair, the Telegraph reports.

GBB has already raised more than £10 million from investors – most of which are from the North, as the start-up is based in Newcastle. The fintech aims to land its banking licence before the end of this year.

Key takeaway:-

Upon launch it says GBB will offer secured property development loans of between £1 million and £5 million, with 90% of lending supporting regional property developers, small and medium-sized businesses (SMBs) and construction companies.

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Monzo co-founder joins new UK challenger bank GBB as non-exec chair - FinTech Futures

GBB, one of the UK's latest aspiring challenger banks, has landed Monzo's co-founder Paul Rippon as its non-executive chair.