Elon Musk wants X to replace your bank account within a year 😳; Monzo in talks to raise £300M in a funding round valuing it above £3.5B 🤯

FinTech is Eating the World, 27 October

Hey Everyone,

TGIF! To finish the week strongly, today we’re going to look at Elon Musk who wants X to replace your bank account within a year (will uncover current struggles & see where the BIG potential is + some deep dives into the Everything App), and Monzo which is in talks to raise £300M in a new funding round (what does this tell us + some deeper dives into Monzo & its brilliant growth strategies). So let’s jump straight into the hot stuff 🌶

Elon Musk wants X to replace your bank account within a year 😳

The news 🗞️ We already know that Elon Musk has grand plans to transform X into the central hub for users' financial lives aka the Everything App. What we didn’t know was that Elon plans to do that within the next year, according to the Verge 😳

ICYMI: Elon Musk continues 𝕏’s expansion into the payments biz 💳 [+ more reads]

During an all-hands meeting this week, the world’s richest man reportedly told employees that X will offer a full suite of banking and money services so comprehensive that you won't need a bank account by the end of 2024.

That’s very ambitious.

Let’s take a closer look at this, uncover current struggles, and see where the BIG potential is.