Rank (formerly Moni)

Winter 2022Active

Group Financing for small businesses across Africa.

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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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