£30 a share (ish) at a £10bn valuation I reckon - assuming they raise some money during the process. If they time this well with good 2025 results and we see £1.5bnin revenues, I think £10bn could be realistic.
You’re right though - brand power could drive it higher relatively quickly once it starts trading as it would be a big fish in a little pond if listing in London (which I agree is the best way forward). £35-40 a share would be a very good result!
Revolut hit $1300 a share. I’m happy for Monzo to take their time to get there 
If it were to get to £35-40/share, Crowdcube investors who maxed out every round would be in for a c.£150k payday 
she will never see a penny as far as i’m concerned
It would be good to know if Revolut’s crowdfunding round was EIS qualifying, given that they always had intentions to grow into a bank at some point.
Whereas, Monzo didn’t qualify for EIS since it was classed as banking activities, although at that point it had no banking license and if it wasn’t approved it would never become a bank.
Personally I feel that EIS rules need updating as they are outdated.
Revolut was definitely EIS and they didn’t have a £1k investment limit (was it £10k?) so there’ll be loads of investors with 6 or 7 figure stakes to cash out with no capital gains liability at all after an IPO. Such an incredible result for them!
Monzo will be a great result as well, early monzo investors shouldn’t grumble too much, but Revolut has to have created dozens of times more value for early shareholders because they’ve always managed to raise at high and progressively higher valuations whereas monzo did not.
I remember at the time of R1 thinking Mondo had missed a trick because they had dismissed EIS as (IIRC) they said banking was an excluded sector under EIS so they hadn’t even applied. And then Revolut just came along as did an EIS crowdfund some weeks later. Maybe because they hadn’t made a banking license application and seemed to come at it from a ‘app with a prepaid card’ angle rather than a ‘we are looking to become a bank’ angle?
But you do wonder if Mondo would have been EIS eligible if they tried. Felt like it was an extra distraction that could be done without. They did come at their crowdfunding from a perspective of ‘we are gracing you with this opportunity, if you are so lucky to be chosen’ so maybe they didn’t think they needed to offer any more incentives to entice investors.
((Monzo employees at the time probably have a different understanding of events, they’re welcome to correct me… this was just my impression as a prospective investor))
Don’t think we’ll see an ipo before 2028
Mortgages are go!
why do you think that?
European banking license acquired. Habito acquired. There is huge room for growth and plenty of upside to the valuation.
As long as Monzo stays true to being truly customer focused, with simplicity and convenience at the heart of their offering, I’m optimistic. If the incoming CEO is as good as or even better than TS Anil at growing the business, I’ll be happy.
I would prefer to see Monzo grow and realise gains from increased lending and addressable market size before IPO. I’m concerned about share dilution over time, but £7bn is paltry. We should be expecting a valuation of at least double. Maybe even more with a successful CEO. Comparisons with Revolut are a little wild though. They make revenue from a totally different set of services. Monzo could look at Revolut and realise they could do more to help customers grow their own capital.
Definitely potential for valuation growth but it will be an uphill battle in Europe and no way easy with competition like Revolut, Bunq and N26 who all have strong footholds in Europe. Definitely wouldn’t expect Monzo valuation to rise fast but more steadily over the next decade
So TS was probably a reasonable choice for the circumstances. He was very much a distress purchase, already in place, with Monzo in a bad place.
He did what he needed to do - steady the ship and plot a course to profitability.
But, in my view, Monzo under his reign has been unimaginative, uninspired, slow and in danger of becoming a decent bank with a better tech stack. And, relevant to this topic, slow and steady but hardly stellar share price growth.
I’m eagerly looking forward to the next phase. I prescribe:
Personally I’m happy to wait another five years for IPO if that means we get, say, 10x more value. I think it’s there.
I’d also be willing to wait 5 years for a 10x increase in share price! 
Me too.
I’ve loved Monzo since I first heard about it back in 2015, and I joined as an alpha user not long after. Was genuinely excited by the mission then, and still am now.
I’m very glad to have invested. I’m happy to wait patiently. I believe in the business and the long-term direction and as you say, possibility to 10x current valuation over the next decade.
That said, it’s been frustrating to see so little movement in valuation despite the very real progress Monzo has made. Revenue has grown dramatically. User numbers have scaled. The product and the brand are clearly stronger than they were a few years ago.
But the recent pattern of rounds/employee share sales, often with limited transparency on valuation, or no progress increasing it… My sense is that it’s the latter rather than the former, which naturally leaves long-term crowdfunding investors a bit in the dark.
Personally, I’m very much hoping for either an IPO in 2026 or a proper raise that gives clearer visibility on share value. Even visibility, more than liquidity, would go a long way.
Still rooting for Monzo. Just hoping for a bit more clarity as the company enters what feels like its next phase.
There is certainly considerable obfuscation around Monzo’s value and we shareholders are consistently left completely ignored by the board - 10 years as shareholders and in that time we have seen zero - and I mean absolutely zero - return on our investment.
Now if in another decade Monzo is worth 10x current valuation then awesome, but 10x zero return is still sweet f-all to us shareholders.
But don’t worry, I’m sure over the next decade Monzo board will have plenty of opportunities to offload their shares - maybe we need crowdcube nominees to fall into adminstration and force Monzo to take ownership of our shares finally instead of ignoring us.
Monzo is taking the Mickey now
Rumours flying that you will receive 40 to 80 times your initial investment happy days
To unlock your multiplier simply refer in another 3 - 5 investors 
