In a bold leap beyond African borders, Nigerian fintech giant Moniepoint Inc. has launched MonieWorld, a new remittance app targeting the UK-based African diaspora, particularly Nigerians, who contribute nearly half of Nigeria’s annual $21 billion remittance inflows.

The new app—run by Moniepoint GB, its London-based subsidiary—is already live on the App Store and Google Play, offering instant, fee-free transfers to Nigeria with daily-updated competitive exchange rates. Users can pay via bank transfers, cards, and mobile wallets like Apple Pay.

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“The launch of MonieWorld is an exciting step on our journey to create financial happiness and support Africa’s entrepreneurial potential,” said Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc.

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Strategic Diaspora Play

The expansion underscores Moniepoint’s ambition to capitalize on the UK’s large Nigerian community, a key player in Africa’s remittance economy. According to Central Bank of Nigeria figures, Nigeria received $20.98 billion in remittances in 2024—a 9% jump from the previous year—with the UK contributing roughly 50%.

Eniolorunda emphasized the value of MonieWorld as a seamless, secure, and affordable solution in a fragmented remittance landscape. He hinted that more features—possibly bill payments, digital wallets, or diaspora banking—may be coming soon.

Fintech Powerhouse Roots

Backed by a robust infrastructure that processes over $22 billion in monthly transactions for 10 million users, Moniepoint is one of Africa’s most prominent fintechs. The firm’s upward trajectory was turbocharged by a Series C funding round in October 2024, involving Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, and a strategic investment by Visa in January 2025.

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“We expect MonieWorld will enhance financial access for everyone involved, boosting UK-Nigeria bilateral trade and benefiting the global economy,” said Eniolorunda.

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With this launch, Moniepoint becomes the latest Nigerian unicorn to stake a claim on the diaspora remittance and cross-border finance market, competing with the likes of Wise, Sendwave, and Flutterwave’s Barter.