Ready? Mondo Bank Opens for Investors Today on Crowdcube

After a challenging problem of too much demand and not enough supply,  Mondo is back on Crowdcube today to allow smaller investors the opportunity to invest in the possible future of banking.

RELATED: Mondo Bank Raises £1 Million in 96 Seconds. Sets Equity Crowdfunding Record

At 1PM GMT (Thursday, March 3rd), Mondo will allow registered individuals the option to “express interest” and post the amount of shares they want to purchase via a link sent out earlier today. This is a first come, first serve exercise so expect to move quickly if you want to be at the front of the queue:

“[after indicating your interest on Mondo] You will then receive an email later today from Crowdcube confirming whether your desired investment is reserved for you. This will be done on a first-come, first-served basis. If it has not been reserved, you may still be eligible if others drop out ahead of you.

If you are within the first £1m, you will then be invited to the Crowdcube pitch page. This will happen over the coming days and you will have time to read the full pitch, relevant documents and make a final investment decision.”

Earlier this week the Crowdcube servers encountered what may be best described as a mini DOS attack as investors blitzed the platform to purchase shares. While Crowdcube / Mondo expected the offer to be popular, they clearly were not prepared for the digital onslaught of people trying to purchase equity in the challenger bank.  The £1 million raise is part of a larger, already funded, £6 million round.  So the question to ask – why didn’t they offer more to the crowd? Regardless, expect shares to go quickly.

In some respects the Mondo offer is emblematic of the potential of equity crowdfunding. Smaller investors are given access to purchase securities in a promising private company that was previously the realm of only the very wealthy / VCs. We trust Crowdcube will follow with similar offers going forward.