What is Mono?
Based in Lagos, Nigeria, Mono operates as a pivotal fintech company, specializing in the provision of a financial account accessibility and management platform. The company's core offering enables seamless integration with financial institutions, allowing businesses to access and manage customer financial data securely and efficiently. This capability is crucial for a wide range of financial services, from credit scoring and identity verification to personalized financial product offerings. Mono's strategic position in the burgeoning African digital economy underscores its role in driving financial inclusion and innovation.
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 Entree Capital, Gbenga Oyebode, Babs Ogundeyi, Lateral Capital, and Eric Idiahi
Series A (2021): $15M supported by Target Global, Acuity, Tiger Global, SBI Investment Korea, Ingressive Capital, General Catalyst, and Entree
Key Investors in Mono
Target Global
Target Global is a leading pan-European technology investment firm with a significant portfolio, investing across all stages of company lifecycles and known for backing successful tech companies.
General Catalyst
General Catalyst is a venture capital firm that supports transformational business opportunities, partnering with entrepreneurs to accelerate growth and build enduring enterprises across various sectors.
Ingressive Capital
Ingressive Capital focuses on empowering early-stage tech startups in Sub-Saharan and North Africa, providing capital and operational support to drive innovation in the region.
What's next for Mono?
The recent major strategic investment in Mono suggests a focus on scaling operations, expanding its product suite, and potentially entering new markets within Africa and beyond. With a foundation built on robust financial data infrastructure, the company is well-positioned to capitalize on the increasing demand for digital financial services. Future developments may include enhanced API capabilities, deeper integrations with a broader spectrum of financial institutions, and the introduction of new services that leverage aggregated financial data for enhanced customer insights and product development. The company's growth trajectory indicates a move towards enterprise-level solutions and a solidified position in the competitive fintech sector.
See full Mono company page
