The scale of the cash crunch facing London’s tech sector has been laid bare after City-based unicorn Monese warned that its future was under threat unless it could raise additional funds.
The fintech company, which offers current account and money transfer services and counts PayPal, HSBC and British Airways owner IAG among its major shareholders, said there was “material uncertainty on the success of raising future fundraising” which undermined the “going concern” status of the business.
