Mondo is a young startup, set in London, and is a case study not only for the technological idea, but mainly for the unprecedented interest for its crowdfunding campaign raised from people.
Mondo is not a mobile-first bank, is the mobile-first (or even mobile-only) bank that launched a crowdfunding campaign to reach a million pounds. Result: The campaign was launched on CrowdCube (the main UK platform) and 96 seconds later reached its target capital. The crowdfunding campaign fastest ever.
During those 96 seconds the impact of requests has knocked out the CrowdCube system, something that never happened before, according to BusinessInsider.
A fact that drove the value of the startup, so far without users, because still in beta-testing, from zero to 39 million euro in just a few minutes. Immediately the Venture Capital fund, Passion Capital invested a further 6 million Euros.
What’s the key factor of this startup?
Its dream: be the best bank ever, not the umpteenth app linked to an existing, typical and traditional bank, but a new one, built from scratch to be closer to the needs of the people, as this Bloomberg’s article describes.
“Fintech, the future is now. Here are the three pillars” featured by EconomyUp, has discussed the case.
This video explains Mondo, through the words of its founder and CEO Tom Blomfield.
Mondo Pitch on Crowdcube from Mondo on Vimeo.
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