Monzo opens pre-reg for £2.5 million crowdfunding round
28 February 2017 | 1948 views | 0
Today we’re launching our £2.5 million crowdfunding round, as the final part of our most recent investment raise of £22 million!
Last year, we raised £1 million in an incredible 96 seconds. Thank you so much to everyone who invested then — we’re so lucky and grateful to have you onboard. However, the overwhelming demand last year meant that many people missed out, even when they were just a couple of minutes late. So, this year, we wanted to take steps to make the process better and give as many people as possible a fair chance to invest.
From now until midday on March 14th, you can pre-register for the crowdfunding round and pledge the amount you would like to invest, all through the Monzo apps on iOS and Android. It takes just a couple of minutes.
The pre-registration and pledge flow in the app
In the app you’ll get full access to our investment deck with even more information and a full schedule. Once you pledge, you’ll receive an email confirming your pre-registration and you’ll be all set.
Then, if more than £2.5 million is pledged, on March 14th we’ll run a random ballot to select the investors. If you’re successful in the ballot, you’ll receive an email with a link to our Crowdcube pitch page and you’ll have 48 hours to complete your investment through Crowdcube. If you don’t complete within 48 hours, we’ll open your space up to another person from the random ballot.
To say thank you, all eligible investors this year will receive:
Early access to the Monzo current account when it launches later this year — be one of the first members of the public to move over to current accounts!
An exclusive Monzo ‘Investor’ debit card — when your full debit card arrives with your current account, it’ll be ‘Investor’ branded and if you ever lose it, we’ll replace it with a brand new Investor card!
Whether you plan to invest or not, you can follow along with our live progress towards our goal of raising £2.5 million at monzo.com/invest/. Please share and tell your friends!
If you invested in our crowdfunding round last year (in March 2016) you’ll automatically be eligible to invest again this time if you’d like. You’ll still need to pre-register and pledge the amount you’d like to invest, but you won’t enter the random ballot. On March 14th, we’ll email you with full details on how to complete your investment through Crowdcube.
We’d love you to invest and help support Monzo on our journey to create the world’s best current account. You can do that anytime between now and midday on March 14th through the Monzo iOS app, Android app or through the Crowdcube pre-registration page. It means so much to us to involve our community this deeply in Monzo and we’d love to continue crowdfunding in the future, so if you can’t invest this time — don’t panic.
If you have any questions, please don’t hesitate to get in touch with us on Twitter, Facebook or on the community forum. We’d love to chat!