Monzo's Crowdfunding Rounds

[kieranmch (Kieran McHugh)]

@Samuel10

Institutional investors will not back a company with a zero track record who are seeking large sums of cash and crowdfunding was the best and probably only way to to raise the sums needed at the time.

This is incorrect. Our Series A did not include a crowdfunding component and was done through a venture capital firm, Passion Capital.

@Samuel10

If Monzo could have received investment and backing from institutional investors from day 1 without crowdfunding, is like to think the people running my bank are intelligent enough to do so.

They did get investment and backing exclusively from VCs from “day one” (the first round).