Maintain our participation ( resist dilution )

The short answer is no -

I could make a case for being preferential access for myself too (though probably not as articulately as you) but I’m glad that Monzo isn’t favouring anyone in particular (apart from existing investors for - hopefully - obvious reasons) because once you start down that path there’s always someone who loses out.

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So my friend who did invest in the last round has asked are all (multiple hundreds) of the Crowdcube investors in Monzo’s first round actually guaranteed participation (to combat dilution) since the platform doesn’t actually ensure pre emption rights?

I wasn’t clear - based on this comment on the stream:
“we, as past investors are entitled to invest again. But what I noticed is that we are not entitled to maintain our participation”

Can you clarify? Thanks, Lucy

Yes, the blog post confirms this -

If you invested in our crowdfunding round last year (in March 2016) you’ll automatically be eligible to invest again this time if you’d like. You’ll still need to pre-register and pledge the amount you’d like to invest, but you won’t enter the random ballot. On March 14th, we’ll email you with full details on how to complete your investment through Crowdcube.

Since there is a cap on the amount that existing investors can invest (£1,000), they will not be able to use up the total 2.5m set aside for Crowdcube investors.

Awesome! Thanks for letting me know :slight_smile: good news

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@alexs has given you a great reply. I’ll also refer you to @anon91821566’s answer from the top of the thread, which goes through the grubby details, and additionally this reply of mine from another thread where I worked out how much Crowdcube investors got diluted in the intervening 4.8m round (details of all rounds can be found on Crunchbase under “Funding Rounds” here.

Here’s a summary of each investment round over the last year or so:

|                      	| Series A    	| Series B    	| Series C    	|
|----------------------	|-------------	|-------------	|-------------	|
| Pre-money valuation  	| £24,000,000 	| £45,200,000 	| £65,000,000 	|
| Investment           	| £5,987,618  	| £4,800,000  	| £22,250,000 	|
| Post-money valuation 	| £29,987,618 	| £50,000,000 	| £87,250,000 	|
| Price per share      	| £0.5133     	| £0.7737     	| £1.0058     	|
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