- Headquarters
- Lagos
- Employees
- 11–50
- Founded
- 2021
- Website
- moni.africa
- Total Funding
- $25K
- Last Round
- $25K Seed
- Rounds
- 1
About
Moni finances small businesses in groups across Africa. The collective responsibility of the group serves as a collateral on the loan while the social pressure from the members ensures on-time repayment. There are over 44million SMBs in Africa. We launched 7 months ago and we already have $72k MRR growing at 50% MoM. We achieved 99% repayment on 11,000 units of loans with over $5M disbursed. This is 15 times higher than most financial services in Africa. Femi (CEO) worked previously with the World Bank with a focus on financial services while Dapo (CTO) led the development of the technology for one of the largest digital lending apps We are also backed by Y Combinator(W22), Magic Fund, Ventures Platform, Voltron Capital and more.
Summary
Moni is a Banking company based in Lagos, Nigeria, founded in 2021. It has raised $25K in total across 1 round.
Tech & App Stack
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Funding History
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