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MonieWorld
Send money to Nigeria in seconds.
- Category:
- Fintech
- Country:
- Nigeria
- Founded:
- 2024
- Cause of Failure:
- Strategic capital reallocation / Margin pressure in crowded corridor
- Outcome:
- Shutdown
- Shut Down in:
- August 2026
- Founders:
- Moniepoint Inc. Leadership
- Number of Founders:
- 1
- Number of Employees:
- 51-200
- Funding Amount:
- Unknown
- Last Funding Round:
- Unknown
- Notable Investors:
- Unknown
About MonieWorld
The UK diaspora remittance subsidiary of Nigerian fintech unicorn Moniepoint, designed to enable fast, fee-free money transfers from the UK to Nigerian bank accounts via web, mobile, and digital wallets.
What went wrong?
Despite strong initial adoption and a 70% monthly transaction surge, the UK-to-Nigeria corridor offered weak differentiation against entrenched remittance incumbents. Faced with massive domestic growth in Nigeria and East African banking acquisitions, Moniepoint shut down MonieWorld to redeploy capital into higher-margin African plays.
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Moniepoint is phasing out MonieWorld, its UK remittance productDon't become a case study
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