Monzo's Crowdfunding Rounds

[anon73142796]

@kieranmch

Other challengers have given out free shares in their company. Each customer would receive 1 share each or something. It’s hardly worth the effort and doesn’t enable the company to raise capital in the process.

In this scenario, it is clear that sharing the success of the company is the aim and not the actual raising of cash.

@kieranmch

I’m not disagreeing that the main point of a crowdfunding round is to raise money, but your assessment that this was the only motivation is not a fair one, in my view. If it was, I suspect Monzo would have just accepted the money from VCs instead.

Okay, maybe it was a little unfair of me to say it was the only reason. What I was trying to get across was that the main objective was to raise cash. Of the options available at the time, crowdfunding had the most advantages attached to it (such as sharing the success of the company with customers), hence why it was the choses route.

If i’m being cynical, I don’t think VCs were willing to put more cash in at the time and Monzo needed cash. Crowdfunding is the next logical step.