UK challenger bank Monzo has attracted a record 6,500 investors on Crowdcube as part of a £22 million funding round with Thrive Capital, Passion Capital and Orange Digital Ventures.

Raising £2.5 million, the 6,500 plus new investors is almost double the previous record, which was held by Crowdcube’s own raise in 2016. Monzo also broke crowdfunding records in March 2016 when it raised £1 million in just 96 seconds, the fastest funding round ever.

Monzo is raising a total of £22 million in the Series C investment round, including a £19.5 million investment from Thrive Capital, Passion Capital and Orange Digital Ventures, alongside the £2.5 million of equity crowdfunding on Crowdcube.

Tom Blomfield, CEO and founder of Monzo, said: “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”.

Luke Lang, co-founder of Crowdcube, added: “The enormous demand from investors to back Monzo is another example of the huge appetite to invest in pioneering FinTech businesses that are transforming a market and meeting the needs of the millennial generation.”

Share Story: