Following the announcement that Mondo’s highly anticipated Crowdcube campaign would not be live today due to technical difficulties, CEO of the digital only challenger bank, Tom Blomfield, revealed the company will open share purchases this Thursday (March 3rd).
Blomfield shared in an email this afternoon:
“As you may know, the demand for participation in our crowdfunding round on Monday overwhelmed Crowdcube’s servers. I wanted you to be the first to know that we now have a plan that we hope is reliable and fair to everyone. Thank you for your patience so far – it means a lot to everyone at Mondo.
“To apologise for the issues you faced yesterday, pre-registrants will have access to the full £1m round instead of the £500k we’d previously reserved. On Thursday at 12pm, we will email a link that will ask how much you would like to invest. This page will only be accessible while there is still space left on the £1m investment. If you enter your details, Crowdcube will email you with further details about how to complete the investment process afterwards. This email is not an offer to invest and the registration page will also not guarantee that you will be able to invest.
“We recognise this is not perfect, and we’re sorry. We want to ensure that you don’t face the same problems you saw on Monday and this is the best way we can do that.”
Mondo is one of a handful of new online-only banks that seek to provide a 21st century solution to managing finances.
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