Moniepoint has launched MonieWorld in the United Kingdom, targeting the African diaspora and Nigeria’s $21bn remittance market.
The company launches its first international operations beyond African borders through an effort to capture Nigerian population growth in the United Kingdom.
The London subsidiary Moniepoint GB runs MonieWorld to let users accelerate seconds-long free money transfers between foreign currencies at changing rates that update every day.
Users can access the application through the App Store and Google Play to perform bank transfers, together with card transactions and Apple Pay mobile payment services.
MonieWorld represents an important advancement towards building financial success and fostering entrepreneurial prospects across Africa according to Tosin Eniolorunda who serves as Founder and Group CEO of Moniepoint Inc.
The service represents a basic extension of our current product line, which delivers important value to our customers. Through this service Nigerian economy can receive essential funds from remittances in a quick effortless manner.
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Financial transfers from abroad to Nigeria increased by nine percent in 2024 to a total $20.98bn according to central bank data while approximately fifty percent of these transfers originated from UK-based Nigerians.
Moniepoint manages over 10 million Nigerian SMEs and consumers, along with their billion-dollar monthly transactions valued at $22bn, which they perceive as their main growth accelerator. The technological framework of the company enables flawless performance, which represents its main advantage.
The African diaspora requires a unified solution that fulfills its financial service requirements more efficiently than the existing uncoordinated market configuration, according to him.
The challenge of meeting diaspora financial service needs excites me since Moniepoint continues to enhance the MonieWorld solution. MonieWorld plans to upgrade financial access for its users, and it will lead to UK-Nigeria trade improvements and worldwide economic advantages.
Moniepoint recorded a 150 percent revenue increase during recent years while receiving funding from Development Partners International and Google’s Africa Investment Fund, along with Verod Capital and Lightroc,k and Visa during October 2015 and January 2025.
