Rumour Lloyds looking at Mondo?

Really you think Mondo would be better off if it was part of Lloyds? This is a chance for Mondo to take control of a volatile market with a new modern/different take on banking.

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this “Lloyds rumour” came about by people voting a question up a list of questions by somebody submiting an off the cuff joke at a Q & A session

  • Tom returned the joke by saying Mondo had no intention of purchasing Lloyds
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IHi RossA in normal times I would agree with you 100% but we are potentially on the verge of a down turn which would make a fund raising virtually impossible if these uncertain times cause investors to stop lending. And with no £15 million Mondo is just a brilliant app with a load of prepaid cards - NOT a bank.

Atom bank or Tandem Bank will quickly take our customers if we do not get a banking license this year.

Don’t forget £15 million is just the start after that Mondo has to raise further money the following year of around £20 million.

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Sorry I disagree - I think this is the time that bigger banks will suffer but smaller banks / Mondo will be able to really take control and use the uncertainty to their advantage. I don’t see the 15mi being too difficult for Mondo to raise based on where they are now.

I think if Lloyds did purchase Mondo they’d quickly kill it off to save money.

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Hi Andrew,

I don’t see how you think Mondo can take advantage of uncertainty - businesses hate uncertainty!!!

Tom mentioned in a recent article (link at bottom of this post) that the biggest problem for Mondo (because of the uncertainty) will be capital raising now.

Also expanding outside of the U.K. in to Europe also just got a lot harder and more expensive.

we will probably be a uk only bank now so the Facebook comparisons are out the window too.

I admire your optimism but I think the 15mill and then a further 20 Million is going to be a lot harder to raise now and I stand by my lloyds preference for these reasons

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Well I didn’t take your point seriously until I saw all the exclamation marks. :stuck_out_tongue_winking_eye:

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would you like to sell your shares to me ?

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I was about to say that. Fie on you.

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Chris, Ian
There is no formal way of trading the shares as they are not officially traded on any platforms, otherwise I would be interested in your offer. If you can think of another way let me know but I doubt there is one.

from crowd cube - “At this point in time there is no secondary market for shares in private companies, so it may not be possible to sell your shares should you wish to do so. However, if you find an interested buyer you are welcome to sell them privately subject to the Company’s Articles of Association. Unfortunately, Crowdcube cannot facilitate this, however, most solicitors should be able to process this transaction for you.”

how many shares have you got for sale ? - send me a private message if you don’t want to reveal publicly how many shares you purchased

If you could send me something too that would be appreciated. Genuinely interested.

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fie on you too :wink: …fleet of foot …early bird etc lol

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I can say that these times will be hard for big banks but I don’t think it’s enough to cause any of them to collapse. Btw if Lloyd’s were to collapse, God help us. But I disagree with you about Lloyd’s just breaking it down. I think they’d run it like most of the other small brands they own. (Birmingham midshires, iweb, Cheltenham and Gloucester etc) they all use the infrastructure but run as their own business.

But as I confirmed earlier, this is false. Lloyd’s are not going to buy mondo nor do they have any intention to do so(as far as I’m aware)

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Let’s be clear, the dream would be dead under Lloyds. I see almost no value that Lloyds would want and could extract that they don’t already have two of. Additionally, the bureaucracy and internal politics would suffocate and kill everything that makes the app currently known as Mondo great.

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I can agree with the whole bureaucracy thing. There’s way too much of it. It would kill the speed at which mondo is going

Some banks would do this just to remove the threat of competition… they’d hand off development to an offshore team just to hasten its demise…

if Monzo was offered 2billion - Id be tempted :slight_smile: lol - not that it has been , or will be anytime soon , or would think about it etc etc etc :slight_smile: as far as I know