Mono, a 2-Month-Old Nigerian Fintech Startup, Has Raised $500,000 Pre-Seed Funding

Mono, an Application Programming Interface (API) startup which plays in the fintech space, has so far raised a total of $500,000 in pre-seed funding. The company is just two months old.

Some of the venture capital firms that have participated in the funding rounds for Mono are  Golden Palm Investments, Lateral Capital, Rally Cap, Ventures Platform, and others. Just last week, the Senior Investment Analyst at Lateral Capital tweeted about how excited they were to invest in the Nigerian startup.

This is the beginning of a love story. Excited to announce that @lateralcap is joining the @mono_HQ journey as its first institutional investor. @ijbkid and @whoisprakhar are tackling a massive opportunity in the API economy 🌍 request beta access now -> https://t.co/S7gXOgYpv5 pic.twitter.com/ZBOYpopUtn

— Kyane “Omowale” Kassiri (@kyanekassiri) September 18, 2020

Mono was co-founded in August 2020 by Abdulhamid Hassan and Prakhar Singh. Hassan, who was a former Product Manager at Paystack, told TechPoint Africa about how he and his business partner “set out to build a mobile application that could aggregate customers’ financial accounts from different Nigerian banks.”

Since its launch, Mono has been enabling companies and even developers to access financial accounts for both real-time and historical transactions such as account balances, credits, bank statements, and customers’ spending patterns.  Already, Mono has partnered with the likes of Flutterwave to be able to initiate direct debit payments and recurring debits.

In the meantime, the API fintech firm has registered customers such as Carbon, Onepipe, Anyi Health, Flutterwave, Swipe, and others including software developers. You may learn more about Mono by clicking here or watching the video embedded below.