Mono Technologies Nigeria

Mono Technologies Nigeria Limited provides an innovative open banking platform in Nigeria, enabling businesses to access financial data and facilitate direct bank payments seamlessly. Founded in 2020 and headquartered in Lagos, Nigeria, Mono Technologies Nigeria Limited specializes in open banking solutions., a portfolio company of Headline,Greycroft, Lux Capital,Glynn Capital, Tiger Global Management, DST Global, Y Combinator, Plug and Play, Social Capital, DCVC, Omidyar Network, Endeavor Catalyst, Alta Park Capital, FinTech Collective, Green Visor Capital, Salesforce Ventures, Zillionize Angel, HOF Capital, Palm Drive Capital, B Capital, Gaingels, CRE, Reshape Holdings, AAF Management, Cactus Capital, Lynett Capital, Avenir Growth Capital, Lofty Inc Capital Management, 4DX Ventures, Golden Palm Investments Corporation, Raba, 9Yards Capital, Flourish Ventures, and Early Capital Berrywood, acquired Mono Technologies Nigeria Limited from General Catalyst Partners, Acuity Ventures, Tiger Global Management, Rally Capital, Entree Capital, SBI Investment, Target Global, Lateral Frontiers, Golden Palm Investments Corporation, Ingressive Capital, and Ventures Platform. Mono offers a reliable open banking platform tailored for businesses in Africa, focusing on high-quality financial data access and direct bank payment solutions. Their core offerings include Statement Pages, which allow companies to obtain users' bank statements quickly and efficiently, and DirectPay, which facilitates bank payments without the need for cards or chargebacks. Notable clients using Mono's services include Carbon and Aella, who utilize these tools to streamline operations and enhance data accuracy.Mono’s revenue model is based on transactional services and partnerships with various businesses that integrate its banking solutions into their platforms. The firm generates revenue by charging fees for accessing and processing financial data through its products, particularly the Statement Pages and DirectPay services. These services are structured to facilitate B2B transactions, where businesses pay a fee to utilize Mono's technology for obtaining financial insights and processing payments directly from bank accounts.

1. Series A

   Oct 11, 2021

   Amount

   $15M

   Investors

   Locked

2. Seed

   May 24, 2021

   Amount

   $2M

   Investors

   Locked