Rank (formerly Moni)

Winter 2022Active

Group Financing for small businesses across Africa.

Save

Rank (formerly Moni)

Winter 2022Active

Group Financing for small businesses across Africa.

Save

Company details

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.

Location

Lagos, LA, Nigeria; Remote

Founded

Unknown

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