you had exactly the same protection as VCs against dilution from round E and previous rounds , if you had read the prospectus (page 91) its quite clear - so in effect Monzo treated the “nobodies” in exactly the same way as somebody with 5 million quid in their hot little hands clamouring to invest.
" because the private investors were protected by a non dilution clause. " no, all investors were protected subject to the price they bought at since the Articles of Association submitted in 2017
If this funding round had been below the public offering price (£7.71 ?? ) you would be entitled to the anti dilution clause formula benefit as well if you had bought at that price - subject to the caveats in the Articles of Association …exactly like other investors, no more, no less
Someone’s salty today, that’s the risk you take when investing, shares can be diluted anytime when more funding rounds come up, that’s the life of startups.
Monzo applied last time but their bid was unsuccessful.
At the time, Metro, Starling and Nationwide were chosen though some of them have since decided to hand money back to the fund.
Though Starling need to be careful - the only reason they have met their business loan target is as they have included Bounce Back Loans in their stats - before that they were well behind target.
Hey man, you make a good point. Thanks for the info. However I can’t help but still feel betrayed as the shares were diluted back to the 2018 price thereby negating any earnings thus far. Less to because of what you state regarding the equality of treatment, but still.
