We’ve closed the first part of a new funding round

Monzo Chat Crowdfunding & Investors
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Hi everyone,

We wanted to share an update you may have just seen in the news, that we’re raising more than $500m (£377m) at a valuation of $4.5bn (£3.4bn) as part of this funding round.

We’re pleased to say we’ve closed the first part of that funding, and raised $480 million (£360 million).

We’ll be sending all our crowdfunding investors an update once we’ve closed the full round, so stay tuned.

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Thanks for the update! Great news, well done Monzo!!

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inb4 crowdfund investors complaining they didn’t get to invest.

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Great work guys.

Plushies for everyone!

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Brilliant news :rocket:

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There’s £17 million left, seems a good crowdfunding figure :eyes:

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Are you head of Plushie distribution now? :eyes:

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Does anyone have a history of valuation figures?

@AlanDoe I’m assuming the share price will be confirmed in the investor update?

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Erm…

The online lender, which is pressing ahead with new products including cryptocurrency trading and buy-now-pay-later finance

Source: Monzo in talks to raise 300M at a £3 Billion Valuation - #136 by Lampran

Is there a press release with this in? (Emphasis mine).

Edit: later from the article:

it is exploring new products such as a platform for retail investors to invest in stocks, people familiar with the matter told the Financial Times. This will include cryptocurrency trading, although this is only at an exploratory stage.

I’m not sure what I think about this.

:thinking:

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I will trade all my shares for a plushie. Someone HMU

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Previous Rounds/Pricing
Round 1: £0.51
Round 2: £1.00
Round 3: £2.35
Round 4: £7.72
Y Combinator (non-crowd): £13.0194
2020 Down round (non-crowd): £7.7145
2021 Round: £14.4125

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Hey @Peter_G :wave:

Each share’s now valued at £14.4125. As a reminder:

  • if you invested in our first crowdfunding round in March 2016, the price per share was £0.5133.
  • if you invested in our crowdfunding round in April 2017 - the price per share was £1.0058.
  • if you invested in our crowdfunding round in November 2017 - the price per share was £2.3566.
  • if you invested in our crowdfunding round in December 2018 - the price per share was £7.7145.
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This is very interesting. Something I would like to see from Monzo in some form or another at some point some day. I do like the idea of a good coherent package, and we don’t currently have that from a bank app in the UK to my knowledge.

N26 had that it in the EU, and it was part of why I was very much looking forward to them coming here. But they came without the rest of the package outside a current account. And some of it was eventually culled.

After credit, tackling the issue of making investing more inclusive seems like the next logical step. The fintech revolution needn’t begin and end with spending. There’s so much more antiquation out there in the industry that could benefit from a little bit of Monzo’s modernisation. So I’m excited by this. Crypto is here to stay, so may as well embrace it than let someone else bet on it and turn out to be right. I get there’s much disquiet for crypto round these parts, but in my view, if you don’t like it, vote with your wallet and just don’t use it.

To me, this reads like Monzo view Revolut as more their real competition, and a potential threat, than they do banks. And if that’s the case, it has me particularly excited to see what’s in store for Monzo’s future.

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Amazing Monzo! Take us to the IPO promise land TS Anil :pray::pray::pray:

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Great work Monzo :tada:

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It is considered bad form to reproduce an article, especially one behind a paywall, so quickly summarising the FT article:

  • Previous $500m funding round was led by Abu Dhabi Growth Fund and backed by new investors Coatue and Alpha Wave Ventures and existing shareholders Accel and Goodwater
  • TS Anil is pretty cheery
  • Revenues doubled and 25% came from things like Plus and Premium
  • Number of employees likely to increase, but not as fast as during last major expansion
  • Might change to less of a word of mouth marketing approach
  • Might consider ability to invest in shares (not Monzo ones!)
  • Might consider crypto trading (looking forward to those topics…)
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Buy shares as in monzo ones , or shares on the stock market like dozens ?

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Stock market

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Bit too much summarising! Edited. Thanks both

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There’s a lot of might going on there

Either they’re just thinking out loud or they’re doing it but have to totally confirm with partners

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