So the day has arrived. Monizo is starting its life with a new and unique identity. Monizo becomes Coconut, the alternative bank account for freelancers.
Choosing a name for a business is a toughy. There are so many things you need to take into account. How memorable it is, will the name travel, can people say it and spell it, how easy is it to find, can you buy the domain name you want, can you shout it to someone across a noisy pub and so on.
It’s been an exciting journey and there were a few reasons for us to make the change. I’m sure you all know that there are some other great and disruptive banking startups with similar sounding names. Also Monizo, whilst we’ve loved it, didn’t pass a lot of the tests above.
But most importantly we thought we could do better. This was a great opportunity to find something that wasn’t just another startup name. It was our chance to create a brand that means something to freelancers and carries our mission: to revolutionise how freelancers manage their money.