Mono raises a $15M Serie A spherical backed by Tiger World
African startup Mono has raised $15 million in a Serie A spherical led by Tiger World alongside different contributors like Goal World, Basic Catalyst, and SBI Funding. A number of present buyers additionally took half amongst them Lateral Capital, Entree Capital, Acuity VC, GPIC, and Ingressive Capital – cumulatively elevating Mono’s quantity to $17 million over the previous yr.
Mono is an African fintech firm bettering entry to monetary info by means of open APIs. Firms like Okra, Sew, Plaid, and OnePipe are additionally providing clients streamlined monetary knowledge right into a single API.
We beforehand lined Mono’s $500,000 pre-seed spherical and later $2 million seed funding. The earlier YC participant is engaged on the same enterprise mannequin to Plaid which has gained huge traction within the US market.
Mono initially focused growth into the Ghana and Kenya markets however has solely established a presence in Ghana the place it’s piloting with few banks and fintechs like Oze and Tranzo. The startup is trying to make the Kenya transfer subsequent yr. Plans for the South African market are additionally underway by means of a partnership with Absa leading to Mono closing the yr with a presence in 5 international locations. Numerically, Mono has processed greater than 200 million monetary knowledge transactions for over 270 companies, builders, and fintechs.
That is Tiger World’s third main African funding after Flutterwave and FairMoney (which accomplished an impresive $42 million Serie B).
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— Entrée Capital (@EntreeCap) October 11, 2021