Another mobile first bank in the UK!
UK-based Mondo, which bills itself as a mobile-first bank, is looking to raise £6 million by inviting customers to invest in the bank via crowdfunding platform Crowdcube along with VCs. The startup has secured £5 million from Passion Capital and is hoping to raise the remaining million from customers. Update: according to Business Insider, Mondo was valued at £30 million in the round. Mondo said it has turned down other international investors in order to include its customers ahead of the company’s public launch. According to CEO Tom Blomfield, Mondo is the “bank for people who hate banks.” The mobile banking platform is currently awaiting its first banking license in the UK while 1,500 people are testing the service with 30,000 registered on a waiting list.