Has anyone ever bought or sold shares on here for more than £7.71?
Are yours still available for £20?
They’ve been £50 for a while
They’ll be £52.50 soon when I go the Full Monzo.
Happy to sell for that too!
Hi, is anyone interested to buy 571 Monzo shares at the upcoming round pricing £7.7145? I have been in contact with Crowdcube, and they say the process is to find a private buyer, and they will present this to Monzo and ask for their consent. I have some exceptional circumstances that should facilitate the consent.
I’m interested in the full amount, could you please PM me?
Hi, I’m looking to buy Monzo shares in the upcoming funding round.
I’m happy with the risks relating to Monzo but does anyone know what would happen if CrowdCube went into administration before the Monzo IPO/exit event?
As I understand it CrowdCube Nominees Ltd hold the legal title to crowdfunded Monzo shares, so would we be lower down the pecking order to a secured creditor in the event of CrowdCube having to wind up?
Personally I would feel more comfortable with Crowdcube not managing the shares … I’m just not sure that Crowdcube is a solid business and I do worry about the nominee account.
Maybe someone can put my fears to rest.
Edit: oh the irony I know! Without Crowdcube we couldn’t invest in Monzo but sometimes you have to board the rickety plane to get to your dream destination.
In theory your shares in the nominee structure should be safe, but I don’t think anyone can guarantee you won’t have to pay anything if the proverbial hits the fan. You should ask Crowdcube what will happen in the worst case scenario.
You might want to look into what happened with Beaufort Securities earlier this year: Investors wake up to insecurity of assets after broker fails
Thanks for your responses.
I’ve sent an email to Crowdcube asking for clarification on what would happen, I’ll post on what they say if/when they respond. The Beaufort Securities is interesting… I couldn’t access the FT link though I found this on the FSCS website.
And here is a relevant thread on the freetrade community forum.
Cowdcube is the only way for small investors to buy shares so I’m just gong to have to make a judgement. Whereas I am tempted to apply for the 200+ full allocation of shares I will likely go for 100 because of the potential Crowdcube counterparty risk.
Crowdcube have just raised another reasonably large funding round and have been backed by Channel 4. I reckon they’ll be safe for a while.
I think the shares are held in an entirely separate legal entity to Crowdcube the company - WCS nominees ltd and then Crowdcube nominees ltd - so I don’t think your holding would be affected if Crowdcube went into administration
Do you know how they plan to turn a profit?
Sure, it’s a matter of public record. Having moved from a cost of £65 to £0 per customer they now have a couple of income streams from lending etc They want to be the hub in a hub and spoke model where they arbitrate your new power supplier, insurance supplier etc and take some commission. No rush though, growth is an end in itself for startups!and they have plenty of top VCs willing to support their funding rounds.
@cmilsy, I’d be very interested too - if the other offers you’ve had don’t come to fruition. Please keep me informed.
Hey @rarther, Part VII, page 86 of the prospectus should answer these questions If it doesn’t, let me know and I’ll dig a bit more.
“The nominee has recently changed from WCS Nominees Limited to Crowdcube Nominees Limited, but the terms on which your shares are held remain the same.”
– Extracted from a Crowdcube email dated Thursday, 23rd February 2017
Thanks for trying to help us figure this out.
I got it up but it just says that there are 118,127,693 shares in issue and none in treasury. 118127693 times £7.71 = around £910m when Monzo is stating the post-money valuation is £1085m.
A handful of people are asking what is this £175m or so of dark matter that is being included in the valuation but not visible to us? Is it huge amounts of staff share options or what?
Thanks a lot.