Moniepoint Launches MonieWorld in UK, Targets Nigeria’s $21bn Remittance Market

In a bold move that signals its global ambition, one of Nigeria’s leading fintech companies, Moniepoint Inc., has launched MonieWorld, a new remittance app tailored for the United Kingdom (UK) -based African diaspora—particularly the Nigerian community.

The app, which officially rolled out in April 2025, marks Moniepoint’s first venture outside of Africa and aims to capture a sizeable share of Nigeria’s $21 billion remittance inflow, nearly half of which originates from the United Kingdom.

“This is more than a launch—it is a bridge,” said Mr. Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc. “A bridge connecting the dreams of Nigerians abroad with the needs of families and entrepreneurs back home.”

MonieWorld, operated by Moniepoint GB (its London-based subsidiary), is designed to make sending money home as easy as sending a message. The app promises instant transfers to Nigeria, with no transaction fees and competitive exchange rates updated daily. It supports multiple payment methods including bank transfers, cards, and digital wallets like Apple Pay.

Available on both Google Play and the App Store, the app offers a clean interface and a straightforward experience that reflects Moniepoint’s commitment to reliability, speed, and security.

A Critical Market and a Timely Entry

Remittances are more than just money—they are lifelines for millions of Nigerian households. According to data from the Central Bank of Nigeria (CBN), diaspora remittances reached $20.98 billion in 2024, marking a nine percent year-on-year rise. With UK-based Nigerians contributing nearly half of that amount, MonieWorld is entering a fertile, emotionally-charged market.

Moniepoint is betting on its reputation and backend tech infrastructure, which currently powers over one billion transactions monthly, valued at $22 billion, for more than 10 million Nigerian SMEs and individual users.

“This is a natural extension of our mission to create financial happiness and unleash Africa’s entrepreneurial energy,” said Mr. Eniolorunda. “The African diaspora needs a one-stop solution—and that’s what we’re building.”

Building on Momentum

The launch of MonieWorld is coming on the heels of Moniepoint’s 150 perent revenue surge, bolstered by a Series C funding round in October 2024. That round drew heavyweight backing from Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, and most recently, Visa, which invested in January 2025.

With these fresh capital injections and strategic partnerships, Moniepoint is positioning itself not just as a local leader, but as a pan-African and now global fintech player, able to innovate at scale and pace.

Beyond remittances, Moniepoint also hints that MonieWorld is just the beginning. “We will be rolling out more services soon—financial tools tailored to the diaspora’s unique needs,” said Mr. Eniolorunda. “Our vision is not only to make sending money easy, but to empower cross-border commerce, foster UK-Nigeria trade, and enhance economic inclusion globally.”