lol nice to be amazed though :-)…a senior member of staff comes on for the first time in months and we berate him for the lack of transparency … lets coax them out a bit rather than berate hey…nobody likes to be insulted , we all know our failings
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What I would ask @tristan, is what are the three things you can talk about that are coming in 2020 that we should be excited by?
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in fairness there have been a few others that have ventured into the killing grounds of the disgruntled Monzo forum over the past few months to try and help customers 
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The highest tier they’re offering is 3k, so their value of you hasn’t decreased their max lending amount has. If they had changed their opinion of you, you wouldn’t still be able to get the highest loan amount.
Also, maybe, just maybe, you have to be aware of how much revenue Monzo had was made through their interchange fees, and due to the current climate that has decreased considerably.
I don’t think Monzo have slipped as much as people think, they have had to furlough staff, are looking at redundancies, and had to radically shift their offering in a short period of time.
Don’t forget they also now legally have to give people overdrafts at the (sometimes) lower previous rate, and have to give payment holidays on loans, and the first chunk of overdrafts have to be interest free.
A lot more going on in the world that has required a very quick, radical shift from Monzo. Maybe cut them some slack.
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Goodness me - we finally have a sensible response! With charts and everything. 
Somebody give this man a cookie.
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Very exciting!
While share prices of listed banks have fallen, it’s not as simple a comparison as you make it.
Of the 3 banks you show, they all have large investment bank arms and are much more exposed to the economy through overdrafts, loans and mortgages - Monzo really isn’t in the same way despite offering some overdrafts/loans.
HSBC is also caught on the middle of a geopolitical and trade war.
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This is true. But the point is that the valuation of Monzo would be expected to have fallen during this time. But yes, it’s not oranges and oranges.
I think you’re blurring the difference between mitigating risk as a current account banking provider who have very recently ventured into business banking, with being unwilling to support their customers.
Monzo’s not got the stability or structure as you pointed out to offer these loans. Many of the banks offering them have:
Or have been given loans (see the business banking loan from RBS a while back), which enables them to do this.
That or they have a higher appetite for risk.
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Hi Johnny, adding some information here as I understand why you make the comparison. You are comparing Monzo share price from private funding rounds to publicly traded company shares, where an existing pool of shares are traded in an exchange.
To illustrate, within investing you are not looking at ‘‘share price’’ as we look at earnings per share and market cap. With adding a significant amount of additional shares to a share price of previous investing round, the sentence ‘‘your shares are worth the same’’ is just not valid. When an IPO hits, the % of shares hold by crowdfunds is significantly reduced and the multiple on entrance price will be reduced as well. I am aware I put it in crude terms.
I want to stress that I have no gripes whatsoever with raising more debt, and likely for fair value. Also no doubt when IPO hits, everyone will have made a successful investment.
The gripe I have is with the communication by Monzo that ‘‘you shares are the same value’’ as it is not and one of Monzo’s values was for people to better understand their finances. This is misleading. The charts you put up are now adding to this narrative. Ideally, people should be educated prior to investing and during investing - so they can have better expectations and also informed decision-making in the future.
I’m a happy holder of Monzo shares and continue to do so.
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Yes, but not as much as the value has if the business was being run properly given the much more limited exposure Monzo had.
Arguably, the need to raise funds now is down to their mismanagement - so I would not be surprised if Tom’s moving was actually a condition imposed by VC firms.
It also seems the new VC money is much less confident of Monzo’s future potential than they were
my ios search is very clunky. be nice if this was somewhere like profile instead of on the feed
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@tristan There’s several things here, some in Monzo’s support but more that isn’t.
The primary thing as you must be well aware is this:
You can’t expect to include that information and not expect it to raise alarm with any investor reading it. It’s phrased in an entirely benign way when the information is fundamentally not of a benign nature. To obfuscate on a substantial dilution because of an anti-dilution clause you gave to an investor that you don’t then adequately explain, and from which all of your crowdfunding customers don’t benefit, is just disingenuous.
People aren’t stupid and you shouldn’t expect to pull the wool over their eyes in the language that you’ve used. Hence comments like these:
The irony is that the reason that this is all a problem is not that Monzo has anything to be ashamed of, because:
The issue is that you’ve deliberately chosen to couch the news in a context of “none of you have lost money on your shares” when in reality, all of us, except Series F, have lost value in our investment due to the effect on the banking industry’s valuation.
Most of the comments here could easily have been avoided by the message being plain speaking, ie.
"The banking industry is down 40% so we’ve not been able to raise capital at such a strong rate. Unfortunately a recent corporate investor has an anti-dilution clause from their last investment at a stronger market price and so a combination of these factors has led to some dilution for the remainder of our investor community.
We are sorry that this has been the case but we are confident that this latest round of fundraising puts us in a strong position to ride out the current market downturn and see us through to a new period of profitability from which we have confidence the share price should recover."
The fact that it was phrased in the opposite manner has caused your morning to be worse than it needed to be.
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“when in reality, all of us, except Series F, have lost value in our investment due to the effect on the banking industry’s valuation”
perceived value ? its a paper valuation , I haven’t lost anything …I never had it, I gave money to Monzo of my own free will , they told me the shares were illiquid with all the other caveats, they were quite clear at every funding round - you can watch the valuation go up , you can watch the valuation going down , you have no opportunity to take you gains or stop your “losses” at this point in time …
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The point is that if Monzo went public tomorrow then none of the crowdfunding investors will have lost any of the money that they paid for their shares.
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That I can talk about:
- Plus/Premium accounts that we finally get right, people like and that drive value for customers + revenue for Monzo
- Loads more Business accounts — NPS is really high for our business accounts already and we’re developing new features here at speed + growing fast. It’s being run by a high-performing, knowledgeable and effective team and am very excited about.
- Us getting better at “bank” stuff — it’s been quite a switch working out how to be a fast-moving startup that’s also a highly regulated bank. We’ve struggled and haven’t always got it right. But I hope we will this year and that unlocks shipping new features quickly, and also safely, which is good for everyone.
Plus a bunch of stuff that I can’t talk about yet 
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This is a good comment (not because of the slack, but because there’s a lot behind the scenes that happens that isn’t new exciting product features but is crucial to us being here in 100 years time)
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Sorry, what is NPS?
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Net Promoter Score.
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