I would be surprised if Monzo weren’t already thinking about it. Recent articles suggest they’re considering the secondary sale to allow “early investors” the chance to cash out. Given it’s been ten years and the initial timeframe indicated on the first investment was ca. 7 years I’d be very surprised if they weren’t already aware (and obviously Monzo colleagues review the forum 
).
I hope Crowdcube investors are still part of Monzo’s plans, but the long silence makes it hard to feel included. It’s especially difficult to see other groups access liquidity while early supporters continue to wait, which doesn’t sit comfortably with the idea of “making money work for everyone.”
I’m dealing with serious health challenges, and being able to sell my shares would make a meaningful difference to my family. Each year without progress makes the situation more uncertain.
If Crowdcube investors are excluded again, it would be incredibly disheartening. I’m still hoping Monzo will provide a fair route to liquidity for those of us who backed the company early on.
1 Like
Is there any % or number of shares crowdcube investors own anywhere does anyone know?
I think it’s about 1%, can’t remember where I saw that but certainly not going to be a big number given all the additional raises they’ve done that crowdcubers didn’t get into.
3 Likes
Who remember’s Golden Tickets 
As crowdfunders, we know we’re a small part of Monzo’s shareholder base — but we were a big part of its early momentum.
In the early days (2016-2019) the bank expanded 100% through word of mouth, and many of us (including me) actively promoted Monzo — even sharing golden tickets because there was a waiting list to join - how crazy to think there was a waiting list to join “A UK BANK” (crazy days).
Crowdcube investors helped build the early community. That early momentum contributed to the foundation Monzo stands on today.
Given that history, and considering the current financial climate, I believe it would be fair and reasonable for Monzo to explore a structured exit option for crowdfunders. Not everyone will choose to sell, but many would welcome the choice, and some may have more urgent personal reasons for needing liquidity.
This isn’t criticism — it’s a request for transparency and a practical path forward for the community that helped Monzo get started.
2 Likes
This is probably why it feels Crowd-cube investors are not a priority any more. But do Monzo staff realise how important Crowdcube investors were to the bank in the early days. I don’t believe the majority of the staff realise as 90% were not employed with the bank when we were promoting it back in 2016 to 2019
2 Likes
I’m sure Monzo don’t think we’re not a priority and they‘re certainly aware of how crowdcubers and customers helped them go viral in the early days. It’s a pretty meaningful sized company now (and has been for a long time) so their funding was never going to be constant crowdfunding given the costs associated.
In any case, I hope your health issues improve and hopefully Monzo come through with an opportunity for you to cash out.
1 Like
Thank you for your well wishes - unfortunately I have medical tests next week which may confirm I am dealing with a long‑term condition, so I’m trying to resolve this while I still can.
I HAVE A SOLUTION…….
According to Sky News reporting on 10 October 2024, Monzo carried out a secondary sale for employees which totalled approximately £109 million !!!
The employee secondary sale took place around 10 October 2024, HMRC’s published guidance confirms that the new CGT rates increases applied only to disposals made on or after 30 October 2024 - Thank you Rachel Reeves.
Monzo raised £340 million in that 2024 secondary share sale according to public reporting so if they did raise more money in a 2026 raise they would have ample money to buyout any crowdcube investors who wanted to sell, it probably wouldn’t even make a dent.
It would also get rid of another potential PR disaster after the poor publicity around the board and CEO issues came to light.
I think those crowdcube investors who wish to sell should be given the choice to either sell to Monzo or continue to hold indefinitely or until an IPO - a one time offer to stay in or cash out.
After 10 years of supporting Monzo this is the minimum crowdcube investors deserve.
2 Likes
From the Monzo 2025 Annual Report:
Secondary Sale Event
During the year we had our first employee
secondary share sale. 901,022 of existing
ordinary shares held by employees and
6,315,846 of ordinary shares created on
exercise of employee options as part of the
transaction were converted to investor
shares and sold to our investors.
This resulted in shares with a total value of
£109.0m being sold. The total cost to Monzo
of the transaction was £53.4m. This included
£45.2m of non-cash expense representing
the uplift in fair value of the existing ordinary
shares/options, as compared to the investor
shares they were converted to before sale.
The remaining cost of £8.2m related to
employer payroll taxes. £11.0m was received
by Monzo on exercise of the employee
options meaning the transaction was
broadly capital neutral.
The secondary sale was one-off in nature
and is not expected to impact profit or loss
in future years. The transaction has not had
any impact on our accounting treatment for
share based payments.
3 Likes
Thanks, David. It does set a precedent for how Monzo handles liquidity events. What’s still unclear is why the sale included everyone but not Crowdcube investors. From the outside, the criteria has never been made clear and it would be helpful to understand Monzo’s reasoning behind excluding us.
I don’t want to sell my shares which are (in total) 16x at the 14.41 share price valuation (yay), but I do think we crowdfunding backers deserve the right to do so if we wish, Monzo evidently doesn’t care, there’s little justifiable reason as far as I can see, EXCEPT that perhaps Crowdcube doesn’t have it’s house in order (wouldn’t surprise me) and is unable to facilitate.
3 Likes
Didn’t the last private sale value the shares at £15.10? (I might be wrong so bare with). Also if we are now looking at a 6-7 billion£ IPO then that “could” put the price at around £20-23?
For me personally I’d like to sell a sizable chunk but keep a good chunk invested in Monzo for the ride - I like Monzo but I hate their treatment/silence towards shareholders.
2 Likes
Yeah, I think probably in excess of £20 now, but I just go by the last public valuation until I have more info
1 Like
It would be fascinating to see how many investors, if given a genuine choice, would really opt to hold for another five years and walk away from the opportunity for a potential x16 to x19 return.
With the boardroom issues now playing out publicly, it’s hard to see when Monzo will realistically be in a position to float. If you were an institutional investor, would you be rushing to back a company whose board is openly clashing with major shareholders and its own CEO? It doesn’t inspire confidence.
This is exactly why I’m so disappointed at being excluded from the 2024 share sale without any meaningful explanation. To make matters worse, we’re now facing a higher CGT rate, while employees and the CEO were able to sell before that increase took effect. It’s difficult not to feel that Crowdcube investors are something Monzo are not appreciative of anymore as many don’t understand or know about the role we played.
Surely this should be the year Monzo gets its house in order—stabilising the boardroom, restoring confidence, and giving Crowdcube investors who want to exit a fair route out. That would remove a source of ongoing negative publicity and allow the company to move forward cleanly.
We don’t even have an official start date for the New CEO Diana Layfield - does anyone know ?
It was rumoured last year as Feb but it’s all gone very quiet and there are only 8 days of Feb left.
Thank you David, that’s a relief.
I wonder if Diana Layfield has an @monzo.com email address active yet 
I’m sure she’s busy and would be filtered out, stick to the IR team
I know — but sometimes you need to try everything even if there’s just a slim chance it reaches her it’s worth while trying - she maybe unaware of who we are and how we are treated.
Monzo’s financial year ends on 31 March, so June is when we should see the full picture. If the trajectory holds, they could be reporting revenue approaching £2 billion and profits in the hundreds of millions. That would likely sit alongside news of another raise to reinforce a valuation around £6 billion ahead of a potential IPO.
I would be incredibly disappointed if the valuation was only £6billion! I’m hoping for the £15-20bn mark and prepared to hold until it reaches at least this amount
I agree with some of the points you’ve raised and am optimistic we will get a chance to sell via secondaries. With the onset of PISCES, POP and Crowdcube’s own secondary offering maturing.. I feel this is more likely than it ever has been
What I don’t want is to have our hands forced - I want to be given the option to sell part of my holding and let the rest ride into perpetuity. I don’t want to be forced to sell the whole whack. I maxxed out on every round so the size of the prize is becoming quite large.
2 Likes