Monument announced raising £28 million.

Monument, a London, UK-based neo-bank, announced completing a funding round of £28 million ($39M).

The money was raised from investors including Eric Zinterhofer of Searchlight Capital, Rakesh Loonkar and Harry Handelsman.

Proceeds will be used as the company set its launch for the summer of 2021.

Monument, founded in 2019 by CEO Mintoo Bhandari, aims to develop a new bank for the affluent, namely customers with a net worth of between £250,000 ($316,140) and £5m, a segment of the market its founders say is underserved. The company has received a banking licence for being able to operate in the UK in ocotber 2020.