New Remittance Platform for the African Diaspora
Moniepoint Inc., Africa’s fastest-growing fintech startup, has officially unveiled MonieWorld, a digital platform designed to streamline remittances and financial services for the African diaspora in the UK. The launch, which was teased earlier, is powered by Moniepoint GB, the company’s UK-based subsidiary, and represents its first move beyond Africa.
The new platform, lets users in the UK send money to Nigeria in just 17 seconds, with no transaction fees and the best exchange rate in the market (£1 = ₦2,172). It also supports a range of payment options, including debit/credit cards, Apple Pay, Google Pay, and bank transfers.
Why MonieWorld?
Remittances remain a financial lifeline for Nigeria. In 2024, inflows hit $20.98 billion, with the UK diaspora contributing nearly 50%. MonieWorld is stepping in to solve long-standing pain points which include speed, cost, and reliability in a highly fragmented remittance market.
Moniepoint’s end-to-end infrastructure gives it a major advantage, offering the kind of user experience that keeps people coming back. As CEO Tosin Eniolorunda puts it:
“We want people to try the product because it’s affordable—and stay because it works.”
Big Ambitions, Bigger Moves
Moniepoint isn’t new to scale. Founded in 2015, it now processes over 1 billion transactions monthly, worth $22 billion. The company was ranked Africa’s fastest-growing fintech by Financial Times for two years in a row and recently became a unicorn after raising $110M in Series C funding, followed by a $10M investment from Visa in early 2025.
With over 300,000 POS agents in Nigeria and a strong reputation for financial access, Moniepoint is betting on its distribution power to win over the UK’s 290,000-strong Nigerian population.
Looking ahead, Moniepoint isn’t stopping at remittances, it plans to expand into full-fledged financial services, this includes savings, investments, and credit for African diasporas in the US, Canada, and beyond. But first, they’re laser-focused on becoming a top-2 player in the UK-Nigeria corridor before branching out.
