We wanted to let you know that we’ve just closed a new funding round. We’re really pleased, especially given the current economic climate.
We sent this email to our Crowdcube investors today and wanted to share it here too.
Please thread any questions below and I and the team will do our best to answer them
An update on your Monzo shares
We’re writing to let you know that we’ve closed a new funding round with our existing investors Y Combinator, General Catalyst, Accel, Stripe, Goodwater, Orange, Thrive, Passion Capital and some new investors.
You don’t need to do anything. Your shares are worth £7.7145 each – the same price as during our December 2018 crowdfunding round.
This means:
if you invested in our first crowdfunding round in March 2016, each share’s worth 15 times its original value
if you invested in our crowdfunding round in April 2017, each share’s worth 7 times its original value
if you invested in our crowdfunding round in November 2017, each share’s worth 3 times its original value
if you invested in our crowdfunding round in December 2018, each share’s worth the same as it was then: £7.7145
Closing a new round is great news for Monzo. Our investors continue to support our mission to make money work for everyone. This means we can keep growing and building products that give people more control over their money – even in the current economic climate.
As well as raising new funding, we’ve also given investors who invested in our Series F funding round last year additional shares to put them in the same position as if they’d invested then at a share price of £7.7145.
We’ve raised £60 million, which is a big achievement. The round involves existing investors Y Combinator, General Catalyst, Accel, Stripe, Goodwater, Orange, Thrive, Passion Capital, and some new investors.
Was this funding round entirely private / not open to new investors? I went looking for a Crowdcube link a while back but I take it this wasn’t open on that platform?
I doubt it… you’d probably find that the share price has held up because of the redundancies, because investors see that Monzo has adapted to the crisis, has a credible route through it all, and is likely to survive the ordeal.
They funded it in a private round without crowdfunding. They gave y combinator more shares so they won’t feel bad about their decision to invest at 2 billion valuation. For two years monzo valuation remains the same with cut back operations. Hopefully it means going forward it is no longer a company of inflated value.
Congrats!