So the VC’s must have put certain conditions in their funding of this round. €26 million to be exact. So if cowboy want their money they would need to have the same share rights equivalent to the earlier investors from the previous crowdfunding round. And it seem cowboy took the bite maybe they are in desperate need of funding considering the climate. But it’s still disappointing predicament for us investors.
Having tried the app while it is simple to use, I think it could use a few UI improvements such as a “back“ button, if you select something the only way to go back in the app is to contact customer support.
Unsure if I will invest if the VC investors get preferential shares, but I’ll make a decision closer to the time.
From the last Moneybox email:
What is the share price and valuation?
The minimum investment for this round is 3 shares = £10.51. At a price of £3.504 per share, we want all our customers to become part of our story.
You’ll be able to see the company valuation, and more, in our investor presentation on the Crowdcube platform when the campaign goes live. At this stage, we can confirm that the valuation of the business continues to increase from previous funding rounds and you will be investing on the same terms as the institutional investors who invested in our current Series C funding round.
Show time it seems wonder if crowdcube can cope.
Just invested. IMO they definitely missed out on the opportunity to give out socks to investors. Complete lack of merch tbh….
Could you share a link - I’m not form UK and didn’t get it yet.
I’ve pinged you. I didn’t get the email but my app did a push notification.
Big thank you!
Im still waiting for the link. Are the shares/presentation reasonable?
I’m watching it tick up right now and I had not idea there would be such an appetite for it. Not sure they’ll be there for long. At 9.32 they are 1.8m of 1m target.
In the interests of rationality, £142,695,055 pre-money valuation seems ludicrous to me.
Could I get the link too have been sitting around in my emails since 9
Just sent it. My email has just arrived at 9.38…
Can you drop it to me too please? I’m still waiting for the link in my email
Thanks for that
£142m is v high
They’ve also not mentioned their CAC. Previous annual reports said it’s £20-30 per user but since Moneybox doing so many paid ads I expect it’s nearer £50 now
Important factor for some…
As I posted earlier in this thread I’ve been a Moneybox user for a long time, massive fan of the product and wanted to invest for a long while. But definitely proceeding with caution on this one. Want to lead with my heart but needs a lot of thought. Huge valuation, no EIS, massively hyped up - my senses are tingling and not for good reason.
Their growth (users and assets) is insane. Seems like in 2-3 more years they’ll be profitable and IPO-able
£142m does not look very high from my perspective.
Keep in mind they have £1Bil AUAM, and 450,000 clients, who they’re charging at least £1 per month (+0.45% platform fees, scaling with AUM) (there might be a number of people who only have a cash isa which is free, but still, you get the point).
This is insane from my perspective! It definitely looks like they are in very good standing.