Nigerian fintech startup Mono has raised a US$500,000 pre-seed funding round to help it build its team and expand to new markets.
Founded in August, Mono helps digital businesses in Africa access their customers’ financial and identity data
Its plug-and-play technology allows customers like Flutterwave, Carbon and Indicina to access a broad range of high-quality financial data from institutions across Africa through a single API.
“Mono is the API for financial accounts. Our API enables businesses and developers to build applications that connect with their users’ financial accounts in a manner that is many more times reliable, predictable, performant, and fair than anything else available,” Abdul Hassan, founder and chief executive officer (CEO) of Mono, told Disrupt Africa.
The startup has raised US$500,000 in pre-seed funding from Ventures platform, Rally Cap Ventures, Ingressive Capital and a handful of angel investors and VCs, with Hassan saying the money was raised to build out the team.
Mono is currently operating in Nigeria, with plans to expand to Ghana and Kenya shortly.