One of the UK’s leading app-only banks has said it will create hundreds of jobs in Cardiff.
Monzo said it is planning to open a new customer operations centre which will bring 312 new jobs to the area over the next four years.
The Welsh Government is providing £950,000 of support for the move.
The FinTech unicorn began by offering a free debit card and accompanying app, which tracks and categorises spending.
The company is now a certified bank, and has added saving and borrowing options to account holders, attracting 1.3 million customers.
“I’m very excited for us to be expanding our presence in Cardiff and continuing to provide amazing customer support,” said Monzo CEO Tom Blomfield.
“Over the next few years, we’ll be hiring hundreds of people into our Cardiff office as we grow our customer base by millions more people.”
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Economy Minister Ken Skates added: “I look forward to Monzo joining our thriving financial and professional services sector here in Cardiff and in doing so creating 312 high quality customer service jobs right in the heart of our capital.”
The FinTech company has also expressed plans to move into the US market and recently opened a Las Vegas office, which it uses to offer twilight hours customer support for UK customers.