Crowdcube #FundedClub member, Mondo, may have officially picked its new name! Earlier this summer, the company announced plans to rebrand after “an undisclosed company with a similar name” was challenging them.
“It can be painful to change the name of a product, but – being the optimists we are – we think this is a great opportunity to come up with something even better. Our commitment to transparency means we’d love your help finding something that will represent us from now on.”
The company set three rules to narrow down our search:
- The name should start with the letter “M.”
- The name should represent us and work across different languages and cultures
- It can’t be Banky McBankface
The Mondo team revealed on Twitter they were going to possibly reveal the new name next Thursday.
Intrigue and mystery all around! ?
We’ll share all on Thursday 25th! ? https://t.co/riREMxZvXE
— Mondo (@getmondo) August 18, 2016
The name changing news comes just one week after Mondo declared itself a licensed bank. It is now regulated by the Financial Conduct Authority and Prudential Regulation Authority.
“We started Mondo back in February 2015 to build a fundamentally different bank. Over the last 18 months, we’ve launched our Alpha and Beta programmes, broken the world record for the fastest crowdfunding campaign ever and more than 200,000 people have signed up to help build the bank of the future. There are nearly 30,000 Mondo prepaid cards in circulation with more and more people joining everyday.”
Mondo’s crew also noted:
“We’ll continue to distribute Mondo Beta cards and develop the Mondo app so that it’s ready to become your bank account in early 2017 and, of course, all current users will have the option of seamlessly switching to ‘full Mondo’! Thank you so much to everyone who is part of the wider Mondo community. We couldn’t have done it without you and we can’t wait to see what the next 18 months will bring.”
Just a few months ago, Mondo took to equity crowdfunding platform Crowdcube and crushed past records by securing raised £1 million in an astounding 96 seconds.
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