Mono
The open banking infrastructure for digital financial services in Africa
What it does
Mono was founded in 2020 by Abdulhamid Hassan and Prakhar Singh to build open banking APIs that power data access and direct payments across Africa. The platform enables businesses to access financial data, verify identity, and initiate bank-to-bank account payments directly. Y Combinator-backed Mono is recognized as a leader in African financial data infrastructure.
Open banking / API aggregatorsFinancial data / account aggregationDirect debit / mandate managementAlternative credit data
Known for
- Pioneering African open banking platform
- Financial data access and aggregation APIs
- Direct account-to-account payments (DirectPay)
- Y Combinator alumnus
Model & industry
API-as-a-ProductData-as-a-ServiceAll / Cross-industry
Funding history
$17.5M
Total raised
3
Rounds
Seed
Latest stage
2021
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2021-02 | Seed | $2.0M | — |
| 2021-10 | Series A | $15.0M | Tiger Global |
| 2020-09 | Pre-Seed | $500K | — |
Source: Condia Funding Tracker
Products & subsidiaries
Mono Connect · Data Aggregation APIMono Direct Pay · Account-to-Account Payment APIMono Lookup · Identity & Verification API
People
Investors
Tiger Global ManagementY CombinatorSBI InvestmentEntrée CapitalIngressive CapitalTarget GlobalGeneral Catalyst