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Middletown, DE

Expanding digital banking and remittance services for French-speaking Africans.

• First-of-its-kind neobank: The first digital banking solution designed for French-speaking Africans.
• Rapid early adoption: Tens of thousands of sign-ups within three months of launch.
• Financial inclusion focus: Enables account opening with just a passport, reducing barriers to banking.
• Integrated remittance services: Seamlessly combines banking and money transfer solutions in a single app.
• Backed by leading investors: Supported by Y Combinator, Kima Ventures, and other notable investors.

Moneco is building the first neobank specifically designed to serve the financial needs of French-speaking Africans, addressing a market of 400 million people, including 300 million unbanked individuals. By offering banking services and remittances within the same app, Moneco simplifies financial transactions for both the African diaspora in Europe and those residing in Africa. Its digital banking solution allows users to open accounts with only a passport, removing barriers that have historically excluded many from accessing financial services. The company has gained early traction, with tens of thousands of sign-ups within months of launch, demonstrating strong demand for its services.

With a business model that leverages revenue in Euros while keeping operational costs in African currencies, Moneco is positioned for sustainable growth. The company’s focus on providing cost-effective remittance solutions and user-friendly banking services makes it a vital resource for millions of Africans seeking financial inclusion. Having secured investment from Y Combinator and other prominent backers, Moneco is now raising funds to expand its market reach, enhance its platform, and further solidify its position as the go-to neobank for French-speaking Africans.

Company Info

Moneco is a neobank that provides banking and remittance services for French-speaking Africans in Europe and Africa.

Moneco is a neobank designed to serve the financial needs of French-speaking Africans, both in Europe and Africa, providing a digital banking solution that simplifies account opening and remittances. The platform allows users to open accounts using only their passports, making financial services more accessible to a population that has historically been underserved by traditional banking institutions. By integrating banking and remittance services in a single app, Moneco aims to streamline financial transactions for African migrants and their families. The company focuses on the African diaspora in Europe, specifically in France, Spain, and Italy, where a significant portion of the community resides, ensuring seamless financial connectivity between migrants and their home countries.

Moneco differentiates itself by addressing the unique financial challenges faced by its target market, including high remittance costs, complex banking requirements, and a lack of tailored digital banking solutions. The company provides users with euro-denominated accounts while keeping operational costs low by leveraging African currencies for internal expenses. Additionally, Moneco positions itself as a migration companion by offering tools that help new migrants navigate administrative procedures, further strengthening its connection with its customer base. With its innovative approach and strategic partnerships, Moneco aims to bridge the financial gap between Africa and Europe, providing banking solutions that cater to both individuals and businesses.