WRITTEN BY

RHYS THOMAS

In 2016 , UK neobank Monzo raised £ 1m in 96 seconds . Two years later , it raised £ 20m in just over two days . The pitch decks looked a little different to the usual Series ‘ x ’ round ; these rounds were aimed at retail investors and Monzo ’ s own customers ( 33,500 of which plowed up to £ 2,000 into the bank ) through crowdfunding platforms . The record-breaking raises made the digital-only bank one of the biggest crowdfunding success stories of the mid twenty-teens , and is today one of the best-known and largest neobanks in Britain .

Since then , the crowdfunding space shows little sign of slowing down . In an exhaustive study into the impact of alternative financing , which comprises crowdfunding , peer-to-peer lending and other less traditional avenues for raising money , researchers from The University of Cambridge concluded that this “ evolving landscape ” had become a cornerstone of global fundraising . Dr Robert Wardrop , Director , Cambridge Centre for Alternative Finance said the segment now provides “ substantial sources of funding for consumers , startups , small and medium sized

33 fintechmagazine . com