Coconut - Crowdfunding Round

Anyone getting in on this?

Looks like they’re already at 69% of their target! :grinning:


I’m in on this! Looks like a perfect solution for small businesses!


Really interesting. Something to look into in more depth but I worry a bit about the low take-up. I wonder what the business model is, though, and if this is really a problem.

I love the look of the integration with HMRC and tax returns. As someone who’s accidentally fallen into doing self assessment tax (long story) that sort of feature would be amazing in something like Monzo. (Hmm, I wonder what Coconut’s definition of self employed is? :thinking:)

(And is it Coconut that was originally Monizo or something?!)


I am in on it. I have one of their accounts and I pledged over the weekend before it went public.


Their registered business name was Monizo Ltd. Unsure if their trading name was though.

It’s a interesting pitch with a solid team. I had some reservations which Sam ( Coconut Co-Founder & CEO ) has helped with.

Worth checking out.


Taking a deeper look. Looks like there might be more short-term revenue than, say, Monzo due to monthly fees. But probably less long-term growth (due to smaller target market). I like the financials.

Strategy looks unimaginative but solid / focused. And probably lots of growth potential here.

Biggest issues for me would be growth rate and the fact they’re not a bank - and don’t seem to be planning on going down that route. I’m not in the market for this product, but (by comparison) I don’t think that Monzo would be my main bank account if it were backing its bank account off to a third-party. I wonder if this might be a tactical error?

I’m in as well. Keen to move off Starling & FreeAgent.


I’m not. I was an early adopter but I can’t see the USP.

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Are you still a user? What’s it like compared to something like Monzo?

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It’s great for telling you if your purchases can be claimed in expenses and it tells you how much tax you’ll owe as you go.

I’m sure there is more, but I’ve not had a proper look around yet and from what I can work out they will help submit your self assesment at the end of a year. This will help a lot of self-employed workers, especially those that are early on in their journey.


I signed up and in on it, joined in on the weekend during their early access. Looks good for a business account and tax accounting for small businesses.

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I find this bit really interesting - my accountant costs a decent chunk of change per year, but frankly it feels like most of what they do could be automated, including submitting returns - the specific advice is one part of the accountancy service I would pay more for occasionally, but the grunt work by lower level accountancy employees just doesn’t add much value IMO. This the part of the business proposition which I think is interesting here, and the part of the market they clearly understand and are going after - small businesses spend a lot of money on financial advice, most of it wasted. This to me is the USP. So they’re competing with people like Xero or Sage, not with Starling or Tide say. I’ve put some money into their raise not because I see them being an amazing bank account, but because I see them replacing accountants for businesses too small to have their own in-house.

Seems their target is either buyout of IPO, and I suspect they’ll be bought by someone like Sage in a few years, who hopefully then won’t destroy all the value they have purchased. That’s my only hesitation as a customer, but not as an investor.


My accountant costs what I’d say is a large amount for what he does. However, he deals with HMRC should they come knocking. If I had more knowledge of taxes, I would submit mine myself as my accounts aren’t the most complex. Maybe Coconut will help me acheive this one day.


I’ve just invested a drop, they’re at 211% of their goal,

Out of interest have you invested small amounts like £30 or £200+

Coconut looks interesting, but not FSCS protected, which I’d want in a business bank account

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I have used Coconut, however, had to move away to a Starling Business account due to them being so far behind… I will look to revisit it in the future but for now, I will be sitting back and watching :slight_smile:

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Coconut closed. Cheap share price and lots for your money / room to expand.

Balls in their court now and I’m intrigued to see them grow!

Who kept their investment in?


I did. It was a token sum (in investment terms) so not too bothered either way.

Took mine out in the end, before the pitch closed.

What made you think again?

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