Tom Blomfield was born in Hong Kong on 11 August 1985. He studied law at the University of Oxford and, while a student, ran a marketplace called Boso.com from 2004 to 2006. It was sold to a Canadian company and became Auctomatic.
After Oxford he worked at OC&C Strategy Consultants. In January 2011 he co-founded GoCardless with Hiroki Takeuchi and Matt Robinson, backed by £125,000 from Y Combinator. He left in 2013, when Takeuchi became CEO.
He then spent time at the dating site Grouper in New York and joined Starling Bank. In 2015 he founded Monzo, first called Mondo. The bank raised £1 million on Crowdcube in 96 seconds in 2016.
In April 2020 he said he would forgo his salary for a year, and in May he became president after stepping down as CEO. He left Monzo in January 2021. He is a group partner at Y Combinator and launched the AI recipe app Recipe Ninja in March 2025.