Crowdcube Investor Update - Jan 2021

New investor update just through, covering off a lot of things already known…

Monzo’s 2021 in numbers
● A Monzo share is now worth £14.4125
● Revenues have doubled this year, with roughly 25% of revenues coming from newproducts launched during the pandemic
● We have more than 5m customers, with over 300K customers using retail subscription andbusiness accounts
● 2,100 employees, up almost 60% since January 2021 (and growing)
● 3x #1 bank for overall service quality and online and mobile banking services (CMA)
● As you can see in our latest Annual Report, a Monzo customer has an average of 28 friends using Monzo

On customer acquisition too:

Last year we welcomed 70,000–100,000 new customers every month, with more than 90% joining Monzo through word of mouth. We also re-invigorated our brand marketing with social media campaigns and, if you live in London, you might have spotted one of our Hot Coral London buses which took to the streets in 2021.Be on the lookout for the return of Give £5, Get £5, and some other exciting initiatives to come!

Wonder what the other initiatives could be :eyes:


You beat me to this by seconds :laughing:

Here is a link to the PDF that’s in the email:



Quite a large increase in staff members! Hopefully for sustained growth, and new product offerings. I guess comparisons against Jan last year are a bit skewed due to the reductions in teams, and office closings etc.


A doubling of share value. That’s impressive. Did we know that before?

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That seems extremely high as an average?!


I have 9 friends using Monzo, and that’s only 9 in my contacts in the app, I know a lot more who have Monzo and see them actively sharing invites on social media.

Time for some proper advertising isn’t it? Be nice to hear Monzo ads while listening to James O’Brien and Eddie Mair during the day

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Personally don’t feel it’s needed as their current growth by word of mouth or whatever other methods are working great.

Quite possibly growing organically and with customer growth, they hire to meet the needs of their base.

If they actively advertised this may result in quality of service being impacted, incurring complaints and other financial losses any business could do without.

We did, but it’s slightly obscured because a lot of this is a recovery from the down round forced on Monzo just after the pandemic hit.

Still good news, though. Especially for the lucky few who got it for the very first crowd funding round!


I think for Business accounts it might work more than personal accounts, where word of mouth works well.

You hear a lot of ads for SMEs and financial products for them on the station

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Very true, I never actively think of business accounts, possibly as it’s never been of use for me :sweat_smile:

It does feel like they’ve been particularly quiet on business accounts. I wonder if they’re waiting for them to be feature complete or if they’re happy with organic growth?

My guess would be working off feedback provided by existing customers to see if it fulfils a lot of the needs, and then build those things out, then when at a happy point probably push marketing for it.

Marketing for business accounts is different to standard current accounts though, so we may not necessarily see as much marketing for it as you would for normal consumer current accounts.

I think I’m probably core/modal demographic (27, London), and would guess it’s people like me pushing that up so much.

I basically expect every single person I meet socially to have Monzo, and they nearly always do.

I just (roughly) counted and I have 140-150 contacts in Monzo. Not saying everyone I know is the same, but of those 140-150, I would expect most of them to have 50-100 easily.

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Yea, I have 41 friends on Monzo, so that’s not surprising really at all. I use it as my main account, and if I’m on a night out (or on holiday) with friends, I get them to download it for splitting/paying a lot easier etc.


I think that it’s really nice that they did an update. People were asking for this for a while, and it’s nice that they heard and responded. Thanks Monzo!


I really would like to understand how they claim it’s a Doubling of share value since Dec 18???
7.71x2 does not equal 14.41 surely it’s 15.43 or am I missing something ???

I don’t want to be pedantic but you would think a bank would get it right ???

" Your shares are now worth £14.4125 each, up from £7.7145 in the previous round.

If you invested in…

  • December 2018: each share’s worth 2x its original value

You’re right. If you want an accurate breakdown then the statement of “2x” isn’t accurate enough.

Personally, I’m fine with the knowledge a share is worth approximately 2x what I paid for it.
I’d be even happier if I’d have bought shares earlier though!

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‘ ● We have more than 5m customers, with over 300K customers using retail subscription and
business accounts’

What is meant by “retail subscription” in the above quoted bullet point from the latest Crowdcube investor update?

Plus or premium afaik

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