Monzo IPO

So apparently Monzo is IPOing?!

Any more info out there?

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Is this ‘real’ or just marketing from HL?

Not something I would be investing in either way… Hemorrhaging money and not profitable / struggling to monetise! They need the IPO to raise funds to keep chugging on I reckon

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All my main bills are paid via my Monzo account and I’m a long term happy customer.
I am concerned however that they can’t turn a profit.

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Yes exactly! I use them, but I don’t use plus as the features aren’t worth paying for. It’s a decent app, but other none challenger banks are also catching up to that with good apps and superior overall features. They don’t particularly offer anything different to other banks either

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I used to be with the Co-Op Bank (because of their ethical stance) until the hedge funds took it over.

Monzo was my stepping stone from high street banks to pure online. I still have an account that I use solely for matched betting but my personal banking and business banking is with Starling. The story of how Monzo was founded from someone doing the dirty on the founder of Starling is an interesting one and really tained how I feel about ol’ Monzo.

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In the news recently OakNorth a Monzo partner that provides savings products. Is being investigated by the FCA over possible money laundering activity.

If you want to hear the story about Starling/Monzo from the other side of the table, it’s all on this podcast ‎The Diary Of A CEO with Steven Bartlett: E86: Monzo CEO On Death Threats, Depression & Digital Banking Wars - Tom Blomfield on Apple Podcasts

Very different to how you see it, but obviously only a few people know the real story!

Edit: if you don’t want to listen to a very long podcast, the short story is that Anne Boden sacked all the Starling employees one day and these employees then went off to form Monzo

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Or …

Tom and the senior management team mutinied and left taking a lot of talent to form Mondo. This seems far more plausible than Anne Boden firing a whole raft of senior management.

@CTE Posyed this a while back

Context: I’m a Monzo crowdfunded and Plus User

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I never said he was completely truthful - just putting the other potential side of it here! I imagine the real story is somewhere in the middle of what they both say happened.

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Yeah that is probably true. Having read/heard both sides I felt it was probably 75-25 with Anne telling more truth BUT the fact is so many leaving her does mean they felt that was the right move so she must have some issues/blame.

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The podcast does indicate that Anne had done it twice before doing it to Tom & team…

Nothing to see here unfortunately Monzo IPO - #7 by cookywook - Financial Chat - Monzo Community

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It’s dodgy advertising from HL.

This ad was the final straw for me. I’m in the process of moving all of my investments from HL to FreeTrade.

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Welcome to the forum @davorg - you sound like the sort of guy we like!

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I have to say, I was not expecting a company like HL doing that sort of shady stuff !

I feel a little bit stupid for posting this thread now lol

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I seem to be a minority here, but I don’t see what HL have done wrong? Are you all looking at it through pink-tinted freetrade-investor lenses? It looks to me like a genuine service to monitor IPOs that may happen in future and may be useful to someone interested in updates?

Monzo’s Board have twice recently flirted with talks of IPO, and their fundraising docs going back to 2016 suggested 5-8 years was how long it may take to IPO (2021-24). If you go by the CEO’s words then their IPO could land in as little as 16 months. How long should HL wait before they are allowed to mention it?

If cooky considers this fake news then maybe he should ask the senior management to stop flirting with IPOs in the media? :slightly_smiling_face:

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Anyone have a guess of what valuation Monzo would have? I know it’s currently around 1.4 Billion but that seems very low in comparison to Revolut’s recent valuation of 33 or so Billion.

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I think it was ingenious marketing myself and kudos to HL for their marketing

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