Upcoming funding round discriminating non-UK early investors

(Jack) #21

I wouldn’t agree that all of those are firsts but there’re for sure a close second.

(Excited about Christmas) #22

The service is definitely innovative. I don’t know of any other company (let alone bank) who can serve customers as well as Monzo, although I am aware of the current delays. I would also cite Summary as innovation. Balance after bills is way more important than actual balance. Ever since banks first used IT, they have never realised!

( related to Monzo CEO, Investor in Monzo ) #23

lol I quite like the innovation of budgets where a bank tells you that you are nearing your budget and are in danger of overspending , can’t ever remember Lloyds warning me that I was getting close to my budget , they just let me go over it and then charge me for my un-arranged overdraft :slight_smile: thats quite an innovative way of conducting business


That’s not really the point.

If the shoe were on the other foot and it was opened only again to existing investors, those who weren’t able to invest would be equally irritated and actually, with much less reason than the person who started this thread. Somebody with an existing stake in the business should be able to avoid dilution, particularly if they have been investing in every round.

Inevitably, the majority of people on this forum are likely to be very pleased with the UK only investment because it ensures they can feel closer to Monzo, whatever that means.

If Monzo have overlooked this and not baked it into the logistic or regulatory process, it’s a bit of an oversight in my opinion.

There seems to be a feeling amongst Monzo users who haven’t been able to invest that they have a right to invest and that they have in some way been discriminated against due to the size of previous rounds.

This is obviously a way of appeasing them. But, you can hold them accountable to building a good product by continuing to use it. As an investor, your interest should be in them building a successful business, increasing the value of your shares, part of which will rely on a good product. Otherwise, you’re nothing more than a supporter or a donor to Monzo.

As soon as the product is no longer good enough, people will leave and customer numbers are much more valuable to Monzo than your investment.

Personally, I don’t think I will invest in this round at the current share price but I can sympathise with people who aren’t able to invest having done so in previous rounds.

(Matt C) #25

They have never stated that that is what they are doing - I had just pointed out that in some cases it would make users feel more invested in the company and therefore they may be more likely to keep their money there. I guess I don’t understand why they can’t have confidence in their product AND promote buy-in/investment from their customers?

( related to Monzo CEO, Investor in Monzo ) #26

I would rather they have enough confidence in their product to not rely on investments to maintain accounts.

crikey :slight_smile:

Tell me which of the below “have enough confidence in their product” to not require further funding to expand their businesses



(Steve Daniels) #27

I personally think it’s great that they want you to own a little bit of what you like.

For me it’s easy. They need capital, I’m willing to give it for equity. It’s win win.

Same would happen if this was any company I used regularly.


Yeah I mentioned this.

Also neat. Wasn’t aware they were the first to add this, but I definitely agree their implementation with the required waiting period is the best.

N26 did this before Monzo if I recall correctly.

N26 did the spending abroad thing before this if I remember correctly. As for bullshit fees, Monzo still charge one (depositing cash).

My bad, I missed this one and this is honestly pretty cool.

Makes no difference to a customer and they’ve only done this because they started later than the other banks. They didn’t think this idea up, they’re just working on a newer system. We don’t applaud people for doing the industry standard.


Triodos and Bunq have done this first. It’s not anything special.


Who cares?

(Graham - Mental health professional) #29

You’ve used the term “sly” at least twice to describe practice in the last few days and on each occasion, you’ve clearly misused it. On neither occasion does the term fit. In this latter case, it simply doesn’t even make sense. Others here have explained why.

I defend to the death, your right to post…but really?


Have you tried nationwide before? The guys replied to me at 2AM and instructed me on my student account application.

Don’t Lloyd offer a basic account that declines when you go over? I’m sure you can ask for no unarranged overdraft also.

Those aren’t limiting it to customers only as a way of tying people to their accounts. Obviously you’re fine to have your opinion, but as I’ve not laughed at yours I’d like you to do the same.

(Is Santa here yet?) #31

How does it tie people in? You keep your shares if you close your account

(Matt C) #32

You have completely taken my original comment and twisted it in a really unfair way. I wasn’t implying that Monzo was trying to take people hostage - I was purely saying it would benefit the company if customers felt that they were invested in it.

(Steve Daniels) #33

You should make a Nationwide forum :yum:

(Micky) #34

I suppose some people might see it as a tool for drawing in more customers and locking them into a product but if they didn’t feel it was a good opportunity then they wouldn’t invest. No harm done. I think it’s a great way to allow customers to own a stake of a company responsible for looking after their money especially as it’s being offered within the app so everyone can get involved not just “investors”


Is there an ignore user function on discourse yet?

(Jolin) #36

I like Nationwide, but this weekend my credit card was blocked for no reason other than their algorithm didn’t like the pattern of my spending. I phoned them up after a decline trying to buy something at 8:20pm Saturday evening and was told they could only deal with lost/stolen cards at that time. The ‘security’ team had gone home, I’d need to wait until the next day, no card use until then. No way would this have happened with Monzo.

(Jack) #37

There already is one!
No idea what it’s like though. I believe it’s heavily moderated etc.


(Chris Rimell) #38

Is this all not wildly off topic now??

I’m going to stop watching this thread.

Has anyone actually asked Monzo why it’s UK only for this round of crowdfunding?


No one wants to open an account and then close it just to buy some shares. It boosts Monzo’s reportable customer count.

My apologises, I didn’t read it in the way that you intended and that sometimes happens over text. I understand your point and I think that’s really cool, but my above point about bolstering account numbers still stands.

No one would be on it. Nationwide happens to be the only other people in with besides Starling and N26. Starling shut their forum and N26 hasn’t been around long enough for me to use them as an example.

Harm done. People may not personally like a product but understand that a product will do well, especially since Monzo has advertised that their share prices have risen so much since the least round, and their customer numbers are also quite large now.

I’m fine with them presenting it in the app, but why limit to only people who have an account.

I pinged @simonb to get Monzo’s official reasoning but, yet again, my difference of opinion has made me feel quite unwelcome.

Edit: I won’t be replying to anything more in this thread that concerns my differing opinion as I don’t feel like it’s worth going around in circles.

(Is Santa here yet?) #40

The cut off date to open an account was the day before the investment was announced. People may have speculated they needed one but that wasn’t announced by Monzo