YC Companies/Winter 2022/Rank (formerly Moni)
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Rank (formerly Moni)

Group Financing for small businesses across Africa.

Winter 2022Fintech / Fintech -> Credit and LendingLagos, LA, Nigeria; Remote20 employees
Banking as a Service
Fintech
Neobank

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.

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Founders (2)

Adedapo Sobayo
Founder
Femi Iromini
Founder

Details

Status
Active
Stage
Early
Team Size
20
Regions
Nigeria, Africa, Remote, Fully Remote