Monzo raises £2.5m on Crowdcube as part of a £22m Series C round
The digital bank secured backing from over 6,500 crowd investors alongside venture capital firms.
Monzo operates a digital mobile bank offering financial services through a smartphone application.
Digital bank Monzo has raised £2.5m in a crowdfunding campaign on Crowdcube, drawing participation from over 6,500 individual investors. The campaign formed part of a wider £22m Series C funding round that also featured contributions from Thrive Capital, Passion Capital and Orange Digital Ventures.
The crowdfunding effort broke previous records on the platform, attracting twice as many backers as Crowdcube's previous high in 2016. Chief executive Tom Blomfield noted that the raise demonstrates strong community engagement and proves that institutional investors are increasingly willing to back companies alongside retail crowds.
From the founder
"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."
Tom Blomfield
CEO and founder at Monzo
