Rank (formerly Moni)
New accelerator entry · 2022-01-14 · the record
In their words
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.
What the record says
- One of 75 companies held here in Fintech › Credit and Lending.
No investor is drawn from a Form D — the form states how many invested and never who. The one investor on this graph is named because a batch has exactly one.
The full profile
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Sourced from the company's Y Combinator directory entry.