I invested in the 1st and 2nd stages of Crowdfunding for Monzo - I read all the discussions about the 2019 vote on investors terms and without stirring the pot, do we have any indication of what happens if Monzo have an IPO in 2026
Monzo will need to weigh up appetite for IPOs with their desire to reach whatever milestone they have in their minds.
At the moment there is talk that the IPO scene is returning to 2021 levels so 2026 could indeed be a very good year to IPO. Last projection I saw was a Ā£7-8 billion valuation, is that the 2026 projection or could Monzo be at Ā£10 billion by 2026? But if Monzo pass this by then it could be years if the IPO market cools again.
Iāve never been apart of an ipo before - Iād like the option to have a hybrid approach, sell some and keep some. Also wouldnāt it be great if you could have your Monzo shares in your Monzo investment account.
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2019 vote?
I canāt see how it canāt achieve a Ā£10bn valuation if revenue growth and user growth continues.
If it can show real traction in the US in the meantime, definitely
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The vote was based on a change of terms for the Crowdcube investors from round 1 circa 2016/2017
What would a Ā£10b valuation mean for share prices?
Iām basing this on sketchy memory and knowledge.
I think the latest round where TS allowed himself to sell shares and make Ā£12,000,000 whilst leaving the rest of us out in the cold was valued at Ā£4.5 billion and those shares sold at Ā£15.10. Doing very basic maths (ignoring potential dilution, options etc. and stuff I donāt t know about) 10/4.5 multiply by Ā£15.10 is Ā£33 a share.
I look forward to being told why I canāt participate in the next share sale. Only kidding - they wonāt tell me why I canāt participate.
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Pretty sure the change impacted future rounds, the first two. The new fees applied to subsequent rounds once passed.
If/when they list the default path is that your shares are converted into shares in the publicly traded company. You can then sell however many you wish.
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No reason why Monzo should be valued at Ā£10bn+.
I know Revolut is a larger beast but if we look at their revenue multiple based on $45bn valuation, itās about 11x. However, with suggestions that their next funding round could value the business at $75bn, then based on 2024 revenue this throws out 18x revenue multiple.
Monzoās valuation of $5.9bn (Ā£4.5bn) at last funding round against 2024 revenue gives us a revenue multiple of about 5.4x, significantly undervalued. If based on 2025 revenue Ā£1.2bn, this multiple decreases further.
In my eyes, if Monzo can grow business customers, increase fee paying accounts, increase loan revenue, and traction in the US, thereās no reason why Monzo should be valued at 10x revenue.
Personally, I think Monzo will wait for 2026 figures before an IPO as Iām confident they could easily achieve Ā£1.5bn-Ā£2.0bn revenue.
I think Iām good for a few more years of growth. If it gets anywhere near the size of Revolut, Iāll be very happy indeed 
Itās been quite a few years. Is this a joke investment, do you think? I have 1,400 lovely little worthless shares from 3 rounds - should I just burn them for warmth?
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If you are looking to sell I will buy them from you, Ā£1 a share - thatās Ā£1,400 in your pocket.
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Itās not a joke investment, itās an investment/gamble in a private banking company that has since grown considerably since you bought your chunk of it. It may get to 10 years+ since you last invested via Crowdcube, but the returns on 1,400 shares (especially over 3 rounds) could be very substantial when the move to public happens.
Hang in there. Youāve already lived life since last purchasing shares almost 8 years ago.
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By the time they list in 2035 the UK capital gains tax rate will be 110% with a threshold of zero, so youāll owe them money 
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Anybody have access to the whole article?
Doesnāt appear much else to the article tbh
Though interesting from a paper value point, i.e. we get to see what the new share price might be, I very much doubt Monzo will allow us to partake in any share sale.
They may have a drive to be loved by their customers but they appear to have no desire to be loved by their retail shareholders.
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I wonder what the share price will be at Ā£10bn IPO valuation? Also, if itās an oversubscribed IPO then will this push the valuation higher?
Maybe not!
Monzo appoints Diana Layfield as group CEO as listing preparations accelerate
By Jonathan Easton
30/10/2025
Challenger bank Monzo has named Diana Layfield, a former Google and Standard Chartered executive, as group chief executive officer, with the handover expected in February subject to regulatory approval, according to a staff memo and reporting by Bloomberg and Sky News.
TS Anil, who has led the digital bank for nearly six years, will step into an advisory role.
Anil said he and the boardās search for a UK chief executive officer led them to meet Layfield. āThrough our conversations, it became clear to me that sheād be a fantastic leader who could drive the business at the global level, into this next chapter and beyond,ā he wrote in the memo. He added: āSo while it wasnāt in my plan, I knew it was an opportunity I couldnāt miss for Monzo.ā
In a statement to Bloomberg, Anil said: āItās always been my belief that great leaders make way for others ā itās something thatās been done before at Monzo when the baton was handed to me, and itās why the business will continue to go from strength-to-strength under Dianaās leadership.ā
Sky News reported the leadership shake-up comes as Monzo steps up preparations for a public flotation, with investors hopeful of a valuation of up to Ā£10 billion and London viewed by board members and investors as the most likely listing venue. The company has been working with Morgan Stanley on meetings with potential investors, Sky News said, adding that Monzo is considering a further sale of existing shares to allow early investors and employees to cash in.
Monzo has grown quickly under Anil. Customer numbers have risen from less than 4 million to more than 13 million, while staff have increased from around 1,000 to nearly 4,000, according to the memo. The bank reported a pretax profit of Ā£60.4 million for the year through March, supported by a surging lending portfolio. It offers budgeting pots, savings and investment funds managed by BlackRock, and was valued at $5.9 billion in an employee share sale last year.
The company has strengthened its controls after regulatory scrutiny. In July, it was fined Ā£21 million for failing to monitor financial crime risks. Monzo has diversified into investments, instant access savings, pensions and accounts for under-16s, and has explored acquisition opportunities in the US and Europe.
Gary Hoffman, chair of Monzoās board, said: āTS has led with values and integrity throughout and has nothing but my gratitude and respect for all that heās achieved and the brilliant foundations that have set Monzo up for the future.ā