Announcing Our £22m Investment Round and Crowdfunding!

No email so far. Looking forward to the next batch :smile: Is there really going to be an email send on Saturday?

£1.000.000

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I might pledge less :stuck_out_tongue: Just need to know why and if we can change the pledge amount.

I do see your point @hailstorm but i would also say that some may end up pledging less if they are given the choice - or not at all?

There is an official answer from Monzo on the crowd cube page here that explains that we can change the amount pledged.

https://www.crowdcube.com/companies/monzo/pitches/qDm4El/discussions/b3Oryb

Also in app chat just confirmed it too.

Good luck everyone, I was really hoping to be picked so hope you all manage it too.

Someone might have asked this before, but i can’t find find something with the search (sorry)…

Do we know how many people are invited every 48 Hours ? - how many invitations per round ?

thanks

Second round was sent yesterday, few hours + 48h after first round, most likely to make sure everyone has solid 48h to complete investment.

Number of invitations per round wasn’t shared, but based on Crowdcube % progress, it seems that email rounds are smaller than funds left to invest (either that or conversion rate from pledge to invest is not too high).

To keep things fair we’d suggest that people stick to the amount investing the amount they pledged. It doesn’t affect the odds of others in the ballot being selected hugely, but we do reserve the right to cancel any investments which exceed the agreed pledge amount if we find this is happening too often.

Hi Naji,
Would this put our reserved pledge amount at risk. Ie it’s like Russian roulette we can try pledge High, and if the funding goes over the max you may cut us entirely or just back down to our reserved amount?
Thank you

@Bruce We’d be most likely to chop it down, but would need to speak with Crowdcube to advise further. I’d say if you haven’t already, it’s a safer bet just to go with the amount you’ve pledged :slightly_smiling_face:

Thats a concern to me @Naji. The reason I asked the question in the first place to make sure that it would be ok to do this. I found confirmation that it would be both on the Crowdcube questions page by the official Monzo account and also through the in-app chat.

My personal reason for wanting to invest more is that since making my pledge, I have been made redundant from work and so wanted to add a bit of my redundancy money to my original investment.

Now that I have made my final pledge through Crowdcube I think it would be unfair to cancel my investment especially after I had sought confirmation that this would be ok before I made it?

I am a very keen user of Monzo and have managed to get many of my friends to sign up. I missed out on the first round of investing but very much wanted to be part of this latest round. Getting picked to do so made me really happy. I’d hate to think that I could lose out completely even after I was advised by Monzo that it would be ok?

Hey @Jon11a

It’s very unlikely we will action this but as there is no technical way to limit investment via the Crowdcube website, we needed a discretionary safeguard in place incase great volumes of people decided to invest more than they have pledged.

This stems from the agreement outlined in the ballot terms and conditions quoted below. You can view them in full here.

“All Priority Pledgors and Successful Pledgors will be notified by email that they are entitled to access the Crowdcube Pitch to invest an amount equivalent to their Pledge on the terms as set out in the Crowdcube Pitch.”

Of course we’ll make every effort to keep you in the loop should we need to take any action like this, it would be pretty unfair to cancel the whole pledge and as I mentioned we would push for our preference of reducing the investment back down to the original pledge amount. This is something we’d need to pick up with Crowdcube should the eventuality arise. We would just encourage people to stick to their original pledge, maybe this is something we should be more clear and consistent on in future :slightly_smiling_face:

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I wonder what % of potential investors are losing out due to people upping their pledge?

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My guess is there’s more people investing less (judging by the pace of investments since the latest batch of invites went out), which is more than compensating for people who invest more.

My guess is the slow pace is due to people not confirming their pledge right away but waiting up to just before the 48 hour window before confirming

I stand by my comments I made here pledging more or less than you pre-registered messes the system up and delays the next round of invitations being sent.

I think the amounts should have been linked to Crowdcude and locked in so either the full amount is pledged or none at all. The whole system seems so unproffesional and un Monzoish.

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I’m not sure what’s given you this idea?

It doesn’t look like people investing more has had a significant on the number of people who are able to invest. In fact it looks like less people are investing less than they pledged, rather than more.

agree. very unmonzoish!

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I believe these are limitations of crowdcube to a point. Like it’s been said many times this is an extremely hard process to please the masses. I really want to invest more, but as we’ve been told by monzo they can use their discression to drop you out, so I won’t unless there aren’t enough investors. Unlikely.

I do feel the guy who invested more and has lost his job should be given a pass and not lose his investment. Bleak circumstances.

Good thing about all this is that it shows how much interest people have in the business.

When you can’t guarantee how much someone will or won’t invest at the time it will slow the next rounds as you can’t tell how much or little that round will garner.

So you end up selecting fewer people & having more rounds. Not the end of the world.