They’ve done 11 million in the first 10 minutes, which is really impressive. So I now think you’re right and they’ll hit £20 million from their existing customers. Amazing!
The funny thing for Monzo is they don’t need this money and could have raised it elsewhere, but it must be comforting to see how many of their customers trust them enough to invest in their business.
Looks like fundraising in-app from customers was a good call, something Freetrade could consider for future rounds perhaps.
Perhaps a short term set back, but I think the general publicity could actually help them. Lots of people won’t have heard of them and there’ll be lots of positive news coming out in future. The recent negative articles will be forgotten if it continues to be successful…
£2,038,459 from our existing investors
£17,961,551 in just 2 hours and 45 minutes today
£6,881,389 in the first 5 minutes today
£2,940,760 in 60 seconds during the fastest minute
2,457 investors from previous rounds invested again, and we welcomed more than 33,549 brand new investors today!
As a previous investor I didn’t think this looked like it was going well after the pre-sale days (only £2m), then I had a look at ten past ten. Flipping heck. That love that users have for the company, the only other place I’ve seen that is on here!