Looking to buy Monzo shares


#1

Hello! Anyone here willing to sell Mozno shares? I researched and talked with Crowdcube - it turns out there is a procedure for doing this.


#2

Anyone know what the last set of shares changed hands for?

And perhaps more to the point, anyone willing to take a stab at a valuation per share now Monzo has launched Apple Pay, is working on getting real revenue from customers (overdrafts etc) and is barrelling non-stop towards a million users?


(Ben Talbot) #3

I really want to invest in Monzo, I was too young to last time :frowning:


(Oli) #4
Funding rounds
A £0.51
B £0.77
C £1.01
D £2.36

Note, round B was not opened to the crowd.


Looking to sell shares
(3 Round Investor) #5

Crowd cube rounds

Round 1 March 2016 55.12p
Round 2 March 2017 100.5p
Round 3 November 2017 235p

Since round 3 there have been big developments
Current account migration
Reduced unit opex per account
Apple pay
Overdrafts
Pots
Summary
Plus what influence does Revolut’s recent raise have on perceived valuation


(Excited about Christmas) #6

Mine are available at £20 each.


#7

Interesting question. I’ve been trying to buy at under £5 recently and no one is selling. There seems to be a big gap between the £4-5 I’m trying to accumulate at and the price investors are willing to sell at. This suggests the real value is much higher than £5. I’m hesitant to go higher without an official round price as I’m scared of massively overpaying and then facing a correction at next crowdfunding round.

Not the most independent source, but Tom Blomfield said a UK bank breaking even with about a million customers is worth about £3bn at the moment http://www.youtube.com/watch?v=iMbP846ss8Y&t=18m57s

They don’t have a million customers yet and they are not profitable yet either, so how much do you discount for that? Markets are forward thinking so probably not a lot. Also, an average break-even bank with around a million customers like Metro has a lot of assets which underpin that valuation, so how much do you discount for Monzo not having any assets other than ringfenced regulatory capital? Probably quite a fair bit, maybe one or two billion.

On the other hand the average break even/million customer UK bank hasn’t grown metrics and valuation by hundreds of percent a year and doesn’t have the backing of Silicon Valley and the prospect of perhaps being a worldwide tech giant in the future. There is also Revolut’s valuation which possibly adds rocket fuel to Monzo’s tank. How much weight do you give all that in your valuation?

It’s very hard to value it, but we can all agree that without a recent round and no sellers around last round’s prices- it is an unknown number and quickly rocketing upwards.

The £3bn market cap Tom alluded to would translate to about £25 a share.

£30bn cap he speculates about would be around £250 a share. £300bn becomes £2500 a share. This is not including future dilution.


(Andrew Clark) #8

Hi all,

Scared of bubbles but have given a lot of thought to the current valuation of the company and what would be a current fair value for shares:

1: An incredibly loyal and trusting user base
2: Growth rate of an incredible 60K-70K people per month (with no advertising)
3: Recent valuation of Revolut
4: Ability to turn prepaid accounts into current accounts
5: Ability to deliver against roadmap
6: Underlying cost base far lower than competitors
7: Incredible user journeys (sign up for my wife last night in less than ten minutes including the human check)
8: Demand for publicly available Fintech shares (check out Freetrade’s raise yesterday)

And against:
1: Yet to turn a profit (will become a problem in a couple of years but I think people are mostly cool with this at this point in time)
2: Occasional outages (they definitely need to solve this one!)

I’m lucky enough to own some shares. The potential upside is so high that the valuation of the company has to reflect that. They are undoubtedly over £1bn which would make shares worth £10 each. I suspect that a valuation closer to £2bn wouldn’t be crazy though. Anyone else have any thoughts?


#9

Hi,

I’m also interested in buying shares for the right valuation. If anyone on here is interested in selling - please PM me.

thanks

Mike


(Excited about Christmas) #10

What is the right valuation?


(Ben Talbot) #11

Oof


#12

I’m happy to value the company at £2billion if everyone else is? :sunglasses:


#13

Approx £10 a share


(Excited about Christmas) #14

No way I’d sell for £10 now. Apple Pay alone is worth a fiver :wink:


#15

How much per feature do you think

Apple Pay £5
CASS ?
Revised spending screen?
How much extra once international transfers are included?
anti-gambling lock add value? (I’d argue it does)


(Andre Borie) #16

Honestly I’d say no single feature is worth anything. It’s more about Monzo’s mindset, roadmap, ethics and ability to deliver (let’s forget the Apple Pay fiasco as the blame is on Apple’s NDA).


(Excited about Christmas) #17

Of course - was a joke :yum:


(Danny) #18

I’ll sell 1 share at the price of an Apple share


(Ben Talbot) #19

:money_mouth_face:


(Excited about Christmas) #20

You could only do that if that’s all you have. CC will only transfer entire holdings (per round) :cry: