LONDON, March 5 (Reuters) - British digital bank has

raised 340 million pounds ($431.26 million) at a 4 billion pound

($5.07 billion) valuation, the company said in a statement on

Tuesday.

The round was led by CapitalG, a fund owned by Google-owner

Alphabet, and included investment from GV (Google

Ventures) and Chinese venture capital firm HongShan Capital.

Monzo, which said it became profitable in March 2023, said

it would use the funds to expand and introduce new products.

The company was valued at $4.5 billion in late 2021 after a

previous funding round.

($1 = 0.7884 pounds)