Mondo crowdfunds £1m in record time

Mobile-first bank Mondo took just one minute and 36 seconds to raise its £1 million target on crowdfunding site Crowdcube today. The digital challenger bank had to suspend its fundraising round yesterday, after a surge in demand from the general public crashed Crowdcube’s servers. Apologising to would-be investors, Mondo CEO Tom Blomfield said yesterday: “Unfortunately, the level of demand to participate in Mondo’s crowdfunding has overwhelmed Crowdcube’s servers, and so we’ve taken the decision to temporarily pause the campaign…”