It’s well worth it without the switching bribe
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
Looks like I signed up to Monzo at just the right time
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
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
Double unicorn now, Duocorn, twincorn…
Wow. Hoping this is to prepare for a US launch.
Big news! Great for them to have a US backer ahead of the launch
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
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
I’m not sure my 10 shares will get me over excited, but the round 1 investors must be skipping and giggling uncontrollably today
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.
I know some who did full in all the early rounds. I intend to shun them for a few days
Hmm that’s about 3,600 shares - so your friend is now sitting on £50,000 of shares!
I take comfort in the capital gains bill when they sell them
Was there no EIS on it? it would be exempt from CGT if there were?
Don’t rub it in dave
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
It’s also excluded by the rules as it is a bank: