This is really not acceptable for people struggling financially.
I don’t want to point fingers, but Crowdcube are being paid a (relative) pittance to manage the basic ongoing nominee formalities (such as holding the data in a spreadsheet and that is all), they have been screamed at by us for trying to manipulate their Monzo nominee terms towards charging transfer fees and so now they have zero incentive to invest their time and effort into facilitating a secondary market in Monzo shares.
I don’t know what the cause of the lack of movement is, but someone at Monzo needs to take charge of the situation as Monzo are ultimately at fault here.
I recall when they tried to recruit a ‘Crowdfunding Lead’ before the last round the job description said the person would transform into a community-focused shareholder ambassador after the fundraising was completed. However, they never recruited this person and gave the campaign management role to Crowdcube instead (presumably because Crowdcube offered to do it for virtually nothing as they were desperate not to be overlooked) with no follow-on shareholder ambassador role. This person is needed more than ever now.
Now that Monzo is growing much larger departments are getting siloed instead of cross-functional (as @tom spent many pitches claiming is something he hates about big banks) and now issues that don’t fall within any particular department or speciality like this one are being ignored by all the staff who have their own specific problems to deal with, whereas in the past there would be all rounders like @tristan who would tackle issues like this and get them fixed whatever the department it belonged to, but alas you can’t even summon these people like genies to the forum anymore as they are far too busy and rich and don’t care about the community anymore (prove me wrong guys )
If Crowdcube are sitting on their hands because of avoiding admin costs, Monzo need to either agree to pay them a fee to cover their costs or threaten to move the nominee management elsewhere / do future rounds with Crowdcube’s competitors.
If the fault is purely on Monzo’s end then they need to either sort out this dumb rule about waiting for a director meeting every once in a blue moon or they need to drastically improve the communication with investors.
Just to reiterate, this is not acceptable from Monzo.