Moniepoint Inc., a major player in Nigeria’s fintech ecosystem, has unveiled a new remittance platform—MonieWorld—marking its first expansion beyond Africa. The launch is aimed at serving the fast-growing Nigerian diaspora in the UK and unlocking a share of Nigeria’s $21 billion annual remittance inflow.
Operated through its London-based subsidiary, Moniepoint GB, the MonieWorld app allows users to send money to Nigeria instantly, with no transaction fees and highly competitive exchange rates updated daily. The app supports various payment methods, including bank transfers, debit and credit cards, and mobile payments such as Apple Pay. It is now available on both the App Store and Google Play.
Founder and Group CEO of Moniepoint Inc., Tosin Eniolorunda, described the launch as a strategic milestone.
“The launch of MonieWorld is an exciting step on our journey to create financial happiness and support Africa’s entrepreneurial potential,” he stated. “It adds tremendous value to our suite of services and simplifies remittances, which are a vital financial lifeline for Nigeria.”
Remittances to Nigeria rose by 9% in 2024 to reach $20.98 billion, according to data from the Central Bank of Nigeria, with the UK diaspora contributing nearly half of that figure. Moniepoint’s entry into the market comes at a time when the demand for fast, low-cost, and reliable remittance services is surging.
With a monthly transaction volume exceeding one billion and processing over $22 billion for more than 10 million Nigerian small businesses and individuals, Moniepoint is leveraging its robust infrastructure to ensure the new app delivers seamless service.
“The African diaspora needs a reliable, one-stop financial solution,” Eniolorunda said. “MonieWorld addresses this gap by offering convenience, transparency, and speed. We believe this innovation will not only enhance financial inclusion but also strengthen economic ties between the UK and Nigeria.”
The app launch follows Moniepoint’s remarkable 150% revenue growth in recent years, backed by a successful Series C funding round in October 2024. The round drew investments from global backers including Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, and Visa, which invested in January 2025.
Moniepoint plans to introduce additional features to MonieWorld in the near future, positioning the platform as a comprehensive financial service hub for the African diaspora. The company envisions the platform becoming a key driver of cross-border trade, economic empowerment, and digital financial access.
