Monzo's now a unicorn! 🦄

(Emma (#20 😎)) #22

It’s well worth it without the switching bribe

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(Emma (#20 😎)) #23

Bit of a Monzo crowdfunding update

The interesting idea was in reply to someone saying they should just bypass CC and do it themselves. I take that as cryptic confirmation that it’s what they’re doing :yum:

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#24

Looks like I signed up to Monzo at just the right time :grin:

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(Matthew Heald) #26

I am full Monzo and can tell you if you haven’t signed up then do so as it is possibly the best bank I have been with to date. The sense of community, the people, the prospectus, the transparency of the bank is absolutely fantastic. Open a Monzo account and you’ll get £10 for free. Merry Christmas from me! https://monzo.com/referral?code=rfwlkyj

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#27

According to multiple sources, the fintech startup has set up a small team to begin laying the groundwork to bring a version of Monzo to North America, which will initially be powered by a U.S. banking partner while Monzo works on the necessary regulatory licenses to go it alone.

from TechCrunch: Challenger bank Monzo has quietly begun working on a U.S. launch

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(Emma (#20 😎)) #28

Double unicorn now, Duocorn, twincorn…

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(Kenny Grant) #29

Wow. Hoping this is to prepare for a US launch.

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(Rob N) #30

Big news! Great for them to have a US backer ahead of the launch

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(Emma (#20 😎)) #31

They already had a smaller US VC who were investing in them before the last round, saw it on their accounts. But not to this extent

Edit: and stripe who I always forget about :see_no_evil:

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#32

So double share price since last round? (Minus a bit for dilution no doubt)

… pure guess, if no dilution then £15 but it won’t be that high yet.

Monzo investors will be millionaires at this rate :+1:

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(Emma (#20 😎)) #33

I’m not sure my 10 shares will get me over excited, but the round 1 investors must be skipping and giggling uncontrollably today

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#34

That’s still £150 in your pocket!

Round 1 got you 1949 shares, so at £15 a pop that’s just shy of £30,000!!

Now imagine if you invested in every round.

:+1:

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(Emma (#20 😎)) #35

I know some who did full in all the early rounds. I intend to shun them for a few days :grin:

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#36

Hmm that’s about 3,600 shares - so your friend is now sitting on £50,000 of shares!

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(Emma (#20 😎)) #37

I take comfort in the capital gains bill when they sell them :grin:

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#38

@Viktor @adam guys feel free to follow in Monzo’ footsteps (from a growth perspective - don’t try to be a bank :wink:)

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(Dave Smith) #39

Was there no EIS on it? it would be exempt from CGT if there were?

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#40

Don’t rub it in dave :grin:

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(Vladislav Kozub) #41

Monzo is too big for EIS, these are the conditions it would not have met:

  • not have gross assets worth more than £15 million before any shares are issued, and not more than £16 million immediately afterwards
  • have less than 250 full-time equivalent employees at the time the shares are issued
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(Kenny Grant) #42

It’s also excluded by the rules as it is a bank:

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