Nigerian Open Banking Startup, Mono Arrives in Kenya
As part of its post-funding continent-wide rollout, Nigerian fintech company Mono has expanded to Kenya.
Mono is developing an open banking infrastructure that offers access to consumer financial data and bank payments for digital enterprises in Africa.
Mono is an open banking infrastructure startup that was established in August 2020. Through its robust APIs, Mono enables next-generation African businesses to securely access financial data and accept direct bank payments on a single platform.
Through a single API, our plug-and-play technology enables clients like Flutterwave, Carbon, and Indicina to access a wide variety of high-quality financial data from banks throughout Africa.
In order to speed its intentions for a continental expansion, the business, which was a member of the prestigious Silicon Valley-based Y Combinator’s W21 class, obtained a US$15 million Series A led by Tiger Global in October of last year. It has since announced its launch in Kenya.
Internet companies will be able to develop cutting-edge products and experiences in lending, BNPL, finance and asset management, mobile money, and other fields thanks to Mono’s debut into the Kenyan market.
“Kenya is a vibrant financial services centre in East Africa, home to an expanding number of companies developing really cutting-edge financial products. By offering dependable infrastructure that Kenyan enterprises may use to connect to the internet economy, Mono will reduce obstacles and difficulties. According to Mono CEO Abdul Hassan, we’re eager to collaborate with Kenyan companies to enable them to broaden their customer offers, become data-informed, and make increasingly precise business decisions.
“This launch in Kenya marks the company’s entry into East Africa and also our first move outside of the nation where we started almost two years ago. We are happy to be bringing these opportunities that Mono offers to other markets and are looking forward to everything we will learn.
