Rank (formerly Moni)
Group Financing for small businesses across Africa.
Rank (formerly Moni) at a glance
- Y Combinator batch
- Winter 2022
- Status
- Active
- Industry
- Fintech
- Team size
- 20 people
- Location
- Not recorded
- Website
- Not recorded
Every field above comes from the Y Combinator company record. Nothing is estimated.
About Rank (formerly Moni)
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.