Doesnât that make them more expensive than Monzo pots? Donât really see much value here on the first glance.
2 Likes
Does anyone have a link to the crowdfunding? As a new investor I cant see it yet
1 Like
Thank you @yomz10
Likewise, and delighted I did. Things progressing very nicely and I expect the valuation for this round (based on VC entering in part 2 of this raise) to be approx same as Freetrade. Todayâs launch (part 1 of this raise) already at ÂŁ3.2M after 8 hours from existing investors of 11,000 and with 25,000 registered this will close at the hard close of ÂŁ5M (pre 100% matching) in next 24 hours I reckon.
1 Like
@Lucas, I could not agree with you more. All the gain are on paper, it is very unfortunate that one of us could ever exit from our investment unless company went IPO or being bought by other huge company. Look at Wirecard for example⌠whatever 100X or 1000X in the past, is worthless nowadays.
I would invest into Plum on Seedrs platform where we could sell our shares via Secondary Market.
It looks like a very successful Convertible Note campaign to raise this much. Well done the team.
Chipâs valuation vs. number of investors is quite interesting compared to other fintechâŚa shame they donât value convertible rounds. Wonder what the pre-money value will have been?
(from https://twitter.com/equitycrowdexp1)
Total addressable market (âTAMâ) is large, ÂŁ10tn is held in savings in europe.
I can see what you mean but this nonetheless seems quite a disingenuous statement.
1 Like
Indeed and Iâd say itâs approx same as Freetrade ~ÂŁ120-150M is my best guess, meaning I think the convertible being pegged to ÂŁ80M represents an excellent deal for investors in this roundâŚ
Their video looks like a copy-paste from FTâs crowdfunding video. Not sure if itâs only me who sees that
1 Like
Oh oh! The secret is out! So are we saying Freetrade and Chip are actually the same company and that Simon and Adam are actually the same person 
Just received an email from ChipâŚthey are re-opening today at 12pm.
After getting ÂŁ10+ million from 6,000+ investors on a ÂŁ2 million target youâd assume they had enough? Crowdcube is doing quite a good job to market their large raisesâŚwith count down, short deadlines and everything. Looks more like gambling than investing sometimes. 
They say "20,000 people who missed their opportunity to invest. "âŚwill they get more investors than Monzo?
1 Like
Can anyone explain their rationale for investing, please?
I am putting them in the same basket as GoHenry - great product but too much of a niche to merit a standalone app. What is the unique proposition here?
Any decent neobank should provide same functionality.
4 Likes
i think mass market wealth management without legacy issues that traditional saving accounts (banks) have is what they are aiming to do
Looks like itâs charging ÂŁ3 every 28 days, itâs a bit strange that it isnât monthly but guess itâll add some extra revenue.
Also it doesnât have FSCS cover for investments.
1 Like
I think this will go down as one of the most overhyped and disappointing company to ever come out the crowd. Theyâre just going to keep raising with no profitability in sight. Nothing sticky about their product for them to develop any sustainable revenue over time. I will be surprise if investors get any sort of return. I hope Iâm wrong thoâŚ
5 Likes
Iâd probably agree, theyâre losing in the App Store rankings vs plum (at 93 vs 23 and donât seem to have much momentum surrounding them). However, raising ÂŁ10m at their stage is really big, so theyâre still able to create somethingâŚ
I find the Chip app a nicer user experience than Plum. I think both will sink and I will lose my investment in Chip and also MoneyDashboard. Thank goodness my investment in Freetrade is all but in the bag. Iâm looking at anything between x10 & x50 return on that one. 
Just to add,I invested in Snoop which is a magnificent offering,it has a uniqueness that others donât have and also an amazing team behind it.
3 Likes