What is Mono?
Based in Lagos, Nigeria, Mono operates as a sophisticated financial account accessibility and management platform. By providing robust API infrastructure, the company enables businesses to seamlessly integrate financial data and payment capabilities into their own applications. This positioning is critical in the rapidly digitizing African market, where Mono serves as a foundational layer for fintech innovation, allowing developers to build secure, data-driven financial products that enhance user experience and operational efficiency for enterprise clients.
How much funding has Mono raised?
Mono has raised a total of $17.5M across 3 funding rounds:
Other Financing Round
$500K
Angel/Seed
$2M
Series A
$15M
Other Financing Round (2020): $500K with participation from Undisclosed
Angel/Seed (2021): $2M led by Eric Idiahi, Entree Capital, Babs Ogundeyi, Lateral Capital, and Gbenga Oyebode
Series A (2021): $15M supported by Entree, Target Global, Acuity, Tiger Global, SBI Investment Korea, Ingressive Capital, and General Catalyst
Key Investors in Mono
General Catalyst
A prominent venture capital firm that partners with founders to accelerate growth and build enduring enterprises through deep sector expertise and operational support.
Target Global
A pan-European technology investment firm with over 3 billion in assets under management, known for supporting high-growth tech companies across all stages of their lifecycle.
SBI Investment Korea
A specialized venture capital and private equity firm with a strong focus on fintech, providing both financial backing and management advice to high-potential startups.
What's next for Mono?
With the infusion of recent capital, Mono is well-positioned to scale its operations and deepen its market penetration. The company is expected to focus on expanding its product suite, enhancing its data security protocols, and potentially entering new geographic markets within Sub-Saharan Africa. As the firm transitions from its early-stage development into a more mature enterprise phase, the strategic focus will likely shift toward solidifying its competitive moat through increased network effects and the integration of advanced financial services, ensuring it remains the preferred infrastructure partner for the next generation of African digital enterprises.
See full Mono company page
