Upcoming funding round discriminating non-UK early investors

You are misunderstanding me. I meant they were so quickly withdrawn after our initial investment.

when was your initial investment , 51p, 70p, 235p ???

cc @FisherMerton , @WillP79, @Dynamo

There’s no automatic rights to pre-emption (i.e. the right to buy the shares first, on the same terms) for CrowdCube investors. If you want to know the details from the horse’s mouth, then visit companies house, search for Monzo, and pull their latest Articles of Association (top entry, 9th November, 62 pages). Section 11 deals with pre-emption. Section 11.6(f) states that CrowdCube investors don’t have these rights. That’s it.

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Yup, you have understood it all. Separate investments, yada yada. I’m with you though; I think you should be allowed to continue to invest. It leaves a bad taste in the mouth. Hopefully there was a good reason to exclude you. Though I would take heart in a few facts: (1) it’s not dilution, (2) your investment keeps growing, and well, (3) Compare the number of shares you get for going in the full £2k compared with the first round you invested in. You probably won’t feel bad at all if you look at that :grinning:.

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51p. The 77p round was not even open to small shareholders.

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Good lord wait until you’re the victim of real discrimination.

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Understanding the other side of the argument is simple. Agreeing with it is a different thing altogether.

There’s a difference @Recchan. Dialogue can be educational as well as fun. It can…

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You may enjoy this video, one part relates very closely to this statement. But I’m not going to tell you where in the video it is, as it is all a good watch:

https://vimeo.com/299168577:

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In my opinion, As a UK resident I’m not eligible to invest in several countries/products around the world, because I don’t fulfill the regulatory and legal requirements so do I feel discriminated?, NO!

What I can do is to invest elsewhere in other products/regions where I’m fully eligible to take part.

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That’s not the point in question. If you are not a UK based investor and you are not a Monzo early investor, everything would be okay.

You’re right, perhaps I didn’t read the whole thread!! :see_no_evil::grimacing:

It appears this upcoming round is an exclusive engagement opportunity for the UK based end users/current account holders (like me) so we can own a small share in a company we bank with! I understand your frustration but I guess it’s the way this round is designed!

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Yes, I’m frustrated and I know it’s the way this round is designed. But i still have hope that they include their loyal non-UK early investors which supported the company while they were applying for the full UK banking licence (2016). Now that they got the UK banking licence, we lost our licence to invest.

Cross-posting @tristan’s response from the other thread

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At the risk of repeating myself.

I think people need to stop complaining about not being able to invest this round when they have already previously invested - there are over 1,000,000 customers who have never had the chance to invest, be thankful you got your shares at 50p, £1, or £2.30 instead of £7.71.

Also this is not Monzo’s fault - take your complaints to the government.

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Sorry to go off on one, but I imagine previous investors are only complaining because they want to increase their stake and therefore make even more money as Monzo grows? All talk of maintaining percentage is a smoke screen, even if you invested maximum every round you would only own about 0.003% - hardly makes you a significant holder.

What about being part of the Monzo story? What about letting others be part of the Monzo story? When you buy shares someone else, someone new, can’t be part of the story.

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Thanks @Hatticus for cross posting it. I’m fine with their answer so i thank everyone here for your attention to my topic, i got a lot of feedback and appreciated it. I never had the chance to be part of this community and i found out it’s very active.

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It’s only a personal view but if you just wanted to be part of the journey, you’d be happy as a user. If you wanted to increase the value, you’d be happy as a user and happy to bring on other users.

These will both impact the value of Monzo positively.

If you wanted to make some money, hadn’t had a chance before because it was a lottery, you’d want to invest.

Just sayin…

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We weren’t allowed to let any member of the public invest in Monzo in this round. This is a legal requirement that have to obey.

We decided that the best compromise to let people invest, that didn’t invite the entire general public, was to limit investments to existing customers. This of course excludes many people, but was necessary to get our crowdfunding round approved by various regulators. It was either this or no crowdfunding :disappointed:

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Thanks again @thomas for the explanation. Now i understand the reason.