Mondo reboots crowdfunding campaign

Mondo reboots crowdfunding campaign

Digital challenger bank Mondo has set a new date for its £1 million crowdfunding campaign after a rush of applicants on Monday toppled the servers of platform provider Crowdcube.

Up to 6000 people had registered to take part in Mondo's crowdfunding effort, announced last month as part of a £6 million funding round.

In an e-mail to frustrated investors, Mondo CEO Tom Blomfield apologised for the confusion and announced the next steps to revive the campaign.

"In summary, pre-registrants will have access to the full £1m round instead of the £500k we’d previously reserved," he writes. "On Thursday at 12pm we will email a link asking how much individuals would like to invest. If you enter your details, Crowdcube will email you with further details about how to complete the investment process afterwards."

Individuals who did manage to access Crowdcube on Monday will see their investments (up to a maxmimum of £1000) honoured.

"For those who has inadvertently invested multiple times, Crowdcube will be in touch to rectify the situation," says Blomfield. "No money will be taken from your card before then."

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