Monzo's Crowdfunding Rounds

[MRMR (Marcel Ruhf)]

@Samuel10

@kieranmch

I actually agree with you. The point of the crowdfunding round wasn’t to “be nice”. It was to give people an investment opportunity, create excitement and a buzz, to reward people financially for being our supporters, and to let our customers own part of the bank. It has been very successful in these aspects.

Again, the point was simply to raise money. All what you have mentioned above are just the by-product of doing so. If giving people an investment opportunity, create excitement and a buzz, to reward people financially for being our supporters, and to let our customers own part of the bank was the point, why didn’t they just give out free shares through the random draw, rather than having people pay for them if they were lucky enough to be selected?

Passion Capital and other institutional investors wouldn’t be happy if that thappened. That would reduce their majority, for essentially nothing.