Monzo is set to offer three month sabbaticals to longer-serving staff.

The perk will be available to employees who have served at the bank for more than four years.

Eligible staff will be able to take one month off at a time, or three months every four years.

The news comes after Monzo hit a $4.5 billion valuation in its latest funding round.

The valuation is well over double the $1.6 billion it achieved in its Series G funding round in February 2021.

“Building a bank is a marathon, not a sprint, so we've always encouraged everyone at Monzo to take regular time off,” said a Monzo spokesperson. “And as we approach our seventh birthday, we want to give the people that have been here the longest the opportunity for an even bigger break”.

“That's why we're introducing three months of paid sabbatical leave for anyone at Monzo that's been here over four years. That might be three months all at once, or one at a time.

“They can use it pursue a dream, go travelling, or just take a well-deserved rest.”

They added: “They've totally earned it”.

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