I made a passing comment over here that Monzo is particularly bad at keeping its crowdfunding investors up to date.
As an investor in a few crowdfunding companies, they almost all drop investors a note - at least once a year - on business strategy, progress, financials etc.
From Monzo there is nothing. The last form of meaningful engagement was the Investival in 2019 - but again that was mostly about product and little about business progress etc.
Could you have a think about what to do for your crowdfunding investors? If it’s easier, think about the Crowdcube Nominee as one, pretty big, investor - one that I don’t think you’d ignore if it were from one individual/corporate.
Now, I know that you might have considered crowdfunding as marketing. And you obviously don’t want to give away too much - but there has to be a sensible medium.
We don’t get a quarterly email or something, sure. But I think the type of content that would go into those quarterly emails is probably going to be a bit high level - not really groundbreaking stuff - they trialled it and I didn’t find it particularly useful. We get a lot of that info posted on the community instead, so they should get kudos for that.
Less than six months ago we got the annual report. In my view they put an incredible amount of effort into that document. There’s no requirement for them to do that, but they do it anyway - that’s treating all investors well.
Check out early annual reports from Revolut, relative to the one they just put out. They clearly learnt that from Monzo.
