MoniePoint Enters UK Market, Launch MonieWorld Remittance Product

Moniepoint Inc., one of Nigeria’s leading business payments and banking services platforms, announces the launch of MonieWorld; a new remittance and digital financial services solution – specifically to meet the fragmented, underserved needs of the UK’s African diaspora.

MonieWorld is launched in the UK by Moniepoint Inc.’s UK subsidiary, Moniepoint GB, headquartered in London.

It marks the first time Moniepoint has offered services to customers outside of Africa; a landmark step in its journey to provide financial happiness for underserved populations.

The MonieWorld application, available via the App Store and Google Play, allows UK customers to send money to Nigeria seamlessly – making financial transactions easier.

Remittances are a material contributor to Nigeria’s economy. They supplement foreign direct investment, while supporting household consumption and foreign exchange liquidity. Global remittances to Nigeria rose 9% in 2024 to $20.98 billion, with the UK diaspora contributing c. 50% – helping to grow businesses, support families, and drive economic development.

Moniepoint is the leading financial platform for Nigeria’s vast network of SME businesses and their consumers with its integrated suite of services – digital payments, bank accounts, credit, and management tools.

Moniepoint processes 1 billion+ transactions monthly, with total payments volume of over $22 billion. It serves ten million businesses and individuals across Nigeria, driving financial inclusion efforts.

MonieWorld makes it easy for the fast-growing Nigerian diaspora in the UK to send remittances quickly, reliably, and cost-effectively.

Transactions usually complete in seconds, competitive exchange rates are adjusted through the day, and no transaction fees are charged. Customers can pay for services via various methods: bank transfers, debit/credit cards, and mobile payment services such as Apple Pay and Google Pay.

Moniepoint’s end-to-end control over the payment process, plus its robust technology infrastructure,  guarantees industry-leading reliability for customers – a major competitive advantage for MonieWorld.

Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said: “The launch of MonieWorld is an exciting step on our journey to create financial happiness and support Africa’s entrepreneurial potential. It is a natural addition to our existing suite of solutions and will be hugely valuable for customers. It makes it easy, quick and reliable to send remittances – a critical source of funds for Nigeria’s economy.

“The African diaspora needs a one-stop solution to better meet its financial services needs – and improve on the current fragmented market. I am thrilled Moniepoint is tackling this challenge and can’t wait to announce future additions to the MonieWorld solution. Our expectation is that MonieWorld will enhance financial access for everyone involved, boosting UK-Nigeria bilateral trade and benefiting the global economy.”

Post-launch, MonieWorld will expand to a fully-fledged finance platform purpose-built for the African diaspora, with further solutions added in due course.

The launch of MonieWorld follows significant, sustained growth for Moniepoint, with revenues increasing by over 150% CAGR in recent years.

The Company achieved a milestone Series C funding round in October 2024, backed by Development Partners International, Google’s Africa Investment Fund, Verod Capital, and Lightrock. This was followed by an investment from Visa in January 2025.