Monzo founder Tom Blomfield has joined Y Combinator, a prominent startup accelerator and venture capital firm, as a group partner.
Blomfield departed the UK challenger bank in 2021, acknowledging that the pressure of scaling the business during the global pandemic had negatively impacted his mental health. Since then, he has become a prolific angel investor, participating in funding rounds for various companies, including Danish payroll automation startup Pento, expense management platform Jeeves, InsurTech BondAval, South African fintech Stitch, Nigerian digital bank Umba, generative AI startup Robin AI, Brazilian bill-splitting app Noh, and Australian RegTech company frankieOne.
A former graduate of Y Combinator, Blomfield took part in the accelerator program with his first startup, GoCardless. With experience steering both GoCardless and Monzo to unicorn status, his new role at Y Combinator will involve supporting startups through their journey in the accelerator. He will assist in areas ranging from validating early-stage ideas to building boards, scaling teams, managing multiple offices, and raising funds in later stages of growth.
Having navigated numerous funding rounds, Blomfield understands the importance of being inquisitive and courteous during pitch meetings. During his transition from founder to investor, he encountered some challenging venture capitalists, specifically pointing to the London team of the $150 billion Softbank Vision Fund as an example of poor behavior. He recalled experiences of waiting for long periods before meetings and unsettling interactions once they started, including a lead partner who displayed unprofessional behavior.
For startups considering a pitch to Y Combinator, Blomfield’s blog post, “How to raise investment,” offers invaluable insights on crafting a compelling pitch and attracting potential investors, even though it was written before the recent tech downturn.
If you’re interested in more fintech opportunities, check out the Finextra Job Board for hundreds of roles available.