Challenger bank Mondo, has been valued at £30m in it's new £6 million funding round. Mondo has raised capital from VC fund Passion Capital and a new crowdfunding campaign on Crowdcube.
Mondo founder and CEO Tom Blomfield told Business Insider: "We've had literally thousands of people help shape the product and build the bank so far, and many have asked, is it possible to invest? It's a really nice opportunity to give our customers the chance to own part of the bank they're helping to build." Investors buying in through the crowdfunding campaign will do so at the same price as Passion Capital. The funding round values Mondo at £24 million pre-money and £30 million post-money. The funding comes amid a wave of investment into so-called "Neobanks" — new, digital-only banks poised to launch in the UK.