Moneco is in private beta with approximately 100 users who have sent remittances totaling $8k GTV in 2 weeks. They are targeting a market of 5.8 million people with a potential of $2.6 billion by 2025.
Organizations Involved
Y Combinator, Kima Ventures, Soma Ventures, Alan Rutledge, BloomTech
Founders
Bilal Dahlab, Kuassi Jimmy Kumako, Shams Radjabaly
Company Description
Moneco is a neobank addressing the African diaspora in Europe with tailored financial products. They aim to provide unique financial products such as free remittances and tontines to the African diaspora in Europe, with plans to expand services to include health insurance, SIM cards, and access to stocks/crypto. Moneco is focused on offering efficient and cheap global money sending services.
Market
Neobank for African migrants in Europe
Location
Delaware City,
Delaware,
US
Coinvestors
Kima Ventures, Soma Ventures, Alan Rutledge, CEO of BloomTech