Less than 2 months ago, we started Mono with the mission of becoming the go-to financial data infrastructure API platform in Africa. Fast forward to today and it’s really amazing what we have been able to achieve as a team.
Today, we’re happy to announce that we have raised a $500k pre-seed round to continue building out what Plaid would look like for Africa.
We’re extremely proud of the team’s relentless work (hint: the company is registered as relentless) and passion to get to this point.
It’s really amazing seeing all the great things that can be achieved with a small, agile, passionate, talented and driven team.
And we’re thrilled to be bringing along the best possible partners on this adventure, Lateral Capital ( Investors in Appzone, Asoko Insights), Ventures Platform (early backer of Paystack, Kudi etc) and Golden Palm ( Investors in Andela, Flutterwave), Rally cap ventures, Idriss bello (Early investor in Flutterwave and Andela), Olumide Soyombo, and other amazing strategic investors.
In past 2 months, we’ve been able to build our MVP, connect with over 16 financial institutions in Nigeria, launched the easiest way to retrieve bank statements with customers and work with amazing clients like Carbon, Anyihealth, Swipe and dozens of developers.
With this new funding, we will primarily invest in the following:
Continue our product efforts to expand coverage of our Data API to include more sources (USSD) and countries. We’re now live in Nigeria and currently testing our beta bank connections in Ghana and Kenya.
Launch Direct debit in partnership with Payment gateways.
Develop new API verticals and developer tools. Our mission has always been about making it easier access data in a simple, elegant and lightning-fast way. More API verticals (e.g. Intelligence insight API) coming soon.
Hire the core team. Our team is currently three people at the moment, spread across our HQ in Lagos and India. We’re currently hiring for business development as well as select other areas. All current and future openings will be posted here.
Prakhar, Abdul and Umar.