Visa-backed African unicorn Moniepoint tackles remittances. But is it late to the game?

When Visa invested in Nigerian fintech Moniepoint earlier this year, it didn’t just validate the newly minted unicorn — it signaled a bold new direction. As part of that deal, the Nigerian fintech best known for building one of Africa’s largest business banking platforms, hinted at plans to integrate with Visa Direct, a move that would unlock international payment rails for remittances and cross-border services. That strategy is now taking shape with the launch of MonieWorld, starting with the UK–Nigeria corridor, its first foray into diaspora-focused financial services. But this isn’t just another play for remittance volume, insists founder and CEO Tosin Eniolorunda. “We’re not trying to be a remittance app,” he told TechCrunch. “We’re building a proper immigrant banking platform.” It’s an ambitious move. The remittance space, especially the UK–Nigeria corridor, is one of the most crowded fintech verticals in Africa. From LemFi, Send and NALA to Zepz and Taptap Send, migrants have ... Read full article.