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Group Financing for small businesses across Africa.
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.
Rank (formerly Moni) positions itself as a money app for African communities, offering saving, spending, and loan-like circle features backed by a microfinance and regulatory framework. It markets itself as a community-powered wealth platform with various saving options and bill payments, under the supervision of Nigerian regulatory bodies.
Rank provides a mobile app that supports multiple saving schemes (Reserve, Flex, Goals, Premium) with different access and withdrawal rules, a Spend and Pay suite to send money, pay bills, and settle expenses, and a Circle-based group saving model with 6, 10, or 12 month durations. It emphasizes bank-grade security, KYC verification, NDIC insurance, and 24/7 customer support, with features designed to enable users to save, spend, and manage bills within a community-focused platform.
Who it’s for: Small businesses, savers, and community-minded individuals in Africa seeking a regulated, cash-flow friendly money app for saving, paying bills, and moving money within circles
Regulatory alignment (CBN-licensed, NDIC-insured) and public-facing customer stories; ongoing growth indicators (user base claims, app downloads).
Cofounder & CEO at Moni. Previously worked with The World Bank Group.
Co-founder Moni Africa. Passion for Digital Product, Technology, Block Chain and Financial Inclusion
Formerly “Moni” · why startups rename →
Working capital for African micro businesses
Plaid for Africa, but better.
