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09-05-2017 - Modwenna Rees-Mogg - 0 comments
Angel Deal of the Month

Monzo raised £2.5m on Crowdcube in April from more than 6.500 mini angels (crowd investors).  The number of investors was double the previous record held by Crowdcube in its funding round in 2016.

This was part of a £22m Series C investment round which included new investment by Thrive Capital, Passion Capital and Orange Digital Ventures and is a sign that not only is crowdfunding now firmly established as a source of funding well beyond start up rounds, but also that VCs and institutional investors will happily invest alongside the crowd.  

Tom Blomfield, CEO and founder of Monzo, was very complimentary about Crowdcube stating “Working again with a company like Crowdcube is a great collaboration with a real fintech pioneer. I'm delighted that over 6,500 people have invested in this round. Our aim was to engage our community with this crowdfunding fund, so to have attracted the most investors ever on Crowdcube is amazing and demonstrates the power and support of the 'crowd”.

 

The Monzo round is also symbolic of investor interest in the new generation of fintech companies and the desire of the millennial investor to back challenger banks. We now await the development of Monzo and to see how it performs financially for its investors. 

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