{"data":{"type":"company_profile_ai","id":123455,"entity_id":"wefunder:company:123455","attributes":{"canonical_url":"https://wefunder.com/moneco","retrieval_urls":{"canonical":"https://wefunder.com/moneco","json":"https://wefunder.com/moneco.json","markdown":"https://wefunder.com/moneco.md","ai_json":"https://wefunder.com/moneco.ai.json","ai_text":"https://wefunder.com/moneco.ai.txt","changelog_json":"https://wefunder.com/moneco.changelog.json","schema":"https://wefunder.com/.well-known/ai-profile-schema.json"},"updated_at":"2026-06-11T05:00:49Z","generated_at":"2026-06-11T07:00:07Z","profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"company":{"id":123455,"entity_id":"wefunder:company:123455","slug":"moneco","name":"Moneco (YC S22)","tagline":"Neobank for 400m French-Speaking Africans","location":"Delaware City, Delaware","website":"https://moneco.app","total_amount_raised":124000,"total_investors":275,"is_funded":true,"is_active":true},"key_claims":[{"claim_id":"claim-total-raised","text":"Total raised on Wefunder: 124000","citation":"https://wefunder.com/moneco#claim-total-raised","provenance":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-12T05:00:49Z"},{"claim_id":"claim-total-investors","text":"Total investors: 275","citation":"https://wefunder.com/moneco#claim-total-investors","provenance":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-12T05:00:49Z"}],"verified_facts":[{"claim_id":"claim-total-raised","text":"Total raised on Wefunder: 124000","citation":"https://wefunder.com/moneco#claim-total-raised","provenance":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-12T05:00:49Z"},{"claim_id":"claim-total-investors","text":"Total investors: 275","citation":"https://wefunder.com/moneco#claim-total-investors","provenance":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-12T05:00:49Z"}],"company_claims":{"tagline":"Neobank for 400m French-Speaking Africans","story":"Note: future projections are not guaranteed1. Africa and Europe, a long and complicated shared historyEurope and Africa share centuries of history. Initially, Europeans were looking for commodities to exchange in Africa, and then they settled strategic trading posts for their ships on the route to Asia.Later on, Africa became a priority for Europe which triggered the beginning of colonization. Beyond territorial discovery, Europeans imposed their language, religion, culture, and more, which created an enduring bond between both continents.Because of this shared history and colonization, millions of Africans migrated to Europe, mostly to the lands of their former colonizers.1.1 MIGRATION PATTERNS BETWEEN EUROPE AND AFRICAPresence of Africans in EuropeToday, there are about 25m Africans living in Europe, 75% of them are gathered in 4 countries : France, UK, Spain and Italy. The map is interactive, you can click on the linkOriginsWhen looking at their country of origin, we see that North Africa is by far the most represented diaspora in Europe, with about 2/3 of Africans in Europe coming from North Africa (ie, former French colonies).Current migration patternsToday, between 600,000 and 1 million Africans migrate to Europe every year. Due to Brexit, the UK and Europe now operate within their own financial ecosystems and cannot serve each other. Given this legal constraint, we have decided to focus our efforts on Europe since it hosts more Africans (about 85%), and more of the french speaking diaspora. France is leading the way with about 40% of the total number of Africans in Europe residing there (due to its colonial past), while Spain and Italy have about 25% of the total (due to their geographical proximity with Africa). With these 3 countries, we target about 65% of the total number of Africans in Europe. The map is interactive, you can click on the link1.2 THE ROLE OF THE AFRICAN DIASPORA IN EUROPE AND ITS CONTRIBUTION TO EUROPEAN SUCCESSAs detailed in the video, numerous Africans in Europe are top performers in their fields and are highly recognized by society. Public figures in industries such as sports, music, cinema, fashion and business include many AfricansBeyond famous African public figures, diverse economic sectors such as agriculture, healthcare, tourism, and transportation are highly reliant on Africans.2. But despite their important role in Europe, Africans still remain highly underserved in terms of financial services3. That's why we have created Moneco, the first neobank entirely dedicated to AfricansWhat is Moneco ?The African diaspora is mostly composed of workers, students and housewives. They live in communities in major cities across Europe and maintain strong ties with their countries of origin. Africans in Africa looking for international accounts can be quite diverse. They include families of the diaspora who wish to receive money in strong currencies (to hedge against inflation), tourists who need international cards, freelancers, and small businesses that make international purchases, among others.Acquisition StrategyFrom an acquisition perspective, we primarily focus on the diasporas in Europe, as they require EUR accounts for their day-to-day transactions. However, the diaspora maintains connections with Africans in Africa through remittances, presenting an opportunity for us. So our goal is to capture unbanked Africans in Africa through remittance channels, and have both the sender and the receiver in the same ecosystem.From a more granular perspective, our approach is:Target African migrants even before they leave Africa for Europe by being their migration companion (we have a free tool on our website that helps migrant understand the admin procedures more easily)Target Africans in Europe with a Neobank enabling them to easily open a bank account and to send money back home at the best price.New/future migrants are targeted with an easy account opening offering Established migrants are targeted with a competitive remittance offeringTarget Africans in Africa that receive remittances through traditional channelsRemittances from France/Spain/Italy to French Speaking AfricaThis map shows formal remittances from our 3 main target markets in Europe. Volumes are important, and those figures do not even account for the huge chunk of the market which is done through informal means. Experts estimate that the total volumes of remittances to Africa actually is twice the figure that the World Bank reports. The map is interactive, you can click on the linkUnbanked in AfricaThis map shows the level of financial inclusion in french speaking Africa (people that currently receive remittances from Moneco). Remittances reception is our acquisition channel and a lot of remittance beneficiaries have already opened a Moneco account. The map is interactive, you can click on the linkPitch deck","quick_facts":["First Neobank for Africans with a focus on French speaking regions (400m inhabitants, 300m unbanked)","Official launch in April 24', 40k sign-ups 3 months later","Addressing a market of 20m in Europe (diaspora) and 400m people in Africa","Only Neobank enabling its users to open account with only their passport","Only Neobank offering banking services and remittances in the same app, in French speaking Africa","$1.5m raised from YC, Kima Ventures, Soma Ventures, Alan Rutledge, CEO of BloomTech, HoaQ, etc.","Business model with revenue in EUR and costs in African currencies, operational costs very low"]},"computed_metrics":{"total_amount_raised":124000,"total_investors":275,"team_size":3,"featured_investor_count":3,"faq_count":5,"recent_post_count":0},"quick_facts":[{"claim_id":"claim-fact-1","value":"First Neobank for Africans with a focus on French speaking regions (400m inhabitants, 300m unbanked)","citation":"https://wefunder.com/moneco#claim-fact-1","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"},{"claim_id":"claim-fact-2","value":"Official launch in April 24', 40k sign-ups 3 months later","citation":"https://wefunder.com/moneco#claim-fact-2","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"},{"claim_id":"claim-fact-3","value":"Addressing a market of 20m in Europe (diaspora) and 400m people in Africa","citation":"https://wefunder.com/moneco#claim-fact-3","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"},{"claim_id":"claim-fact-4","value":"Only Neobank enabling its users to open account with only their passport","citation":"https://wefunder.com/moneco#claim-fact-4","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"},{"claim_id":"claim-fact-5","value":"Only Neobank offering banking services and remittances in the same app, in French speaking Africa","citation":"https://wefunder.com/moneco#claim-fact-5","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"},{"claim_id":"claim-fact-6","value":"$1.5m raised from YC, Kima Ventures, Soma Ventures, Alan Rutledge, CEO of BloomTech, HoaQ, etc.","citation":"https://wefunder.com/moneco#claim-fact-6","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"},{"claim_id":"claim-fact-7","value":"Business model with revenue in EUR and costs in African currencies, operational costs very low","citation":"https://wefunder.com/moneco#claim-fact-7","observed_at":"2026-06-11T05:00:49Z","expires_at":"2026-06-18T05:00:49Z"}],"latest_fundraise":{"id":70522,"entity_id":"wefunder:fundraise:70522","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2025-01-30T01:34:38Z","funding_closed_at":"2025-03-19T04:03:42Z"},"investor_memos":[],"team":[{"id":3072718,"entity_id":"wefunder:company_role:3072718","name":"Bilal Dahlab","title":"Co-Founder \u0026 CEO","role":"founder","profile_url":"https://wefunder.com/bilal.dahlab"},{"id":3079416,"entity_id":"wefunder:company_role:3079416","name":"Shams Radjabaly","title":"Co-Founder \u0026 COO","role":"founder","profile_url":"https://wefunder.com/shams.radjabaly"},{"id":3079415,"entity_id":"wefunder:company_role:3079415","name":"Kuassi Jimmy Kumako","title":"Co-Founder \u0026 CTO","role":"founder"}],"featured_investors":[{"id":9466,"entity_id":"wefunder:company_investor_profile:9466","name":"Y Combinator","bio":"Startup accelerator and VC firm that's launched over 4,000 companies, including Airbnb, Coinbase, DoorDash, Dropbox, Instacart, Reddit, and Stripe","profile_url":"https://wefunder.com/ycombinator","endorsement_quote":"Dalton Caldwell : The problem Moneco is tackling is crucial and affects millions of people. The solution they have devised is unprecedented, and the team appears highly capable of making this venture a success."},{"id":9467,"entity_id":"wefunder:company_investor_profile:9467","name":"Alan Rutledge","profile_url":"https://wefunder.com/alan.rutledge.1","endorsement_quote":"Alan Rutledge, a Y Combinator alum, is a seasoned investor dedicated to fostering startups with expertise in growth, sales, pricing, and press. With 140+ investments, he boasts a 4x return on assets and the backing of prominent VCs like Sequoia and a16z."},{"id":10515,"entity_id":"wefunder:company_investor_profile:10515","name":"Rayane Radjabaly","bio":"Seasoned tech sales leadership looking to support the next generation of Fintechs","profile_url":"https://wefunder.com/rayane.radjabaly","endorsement_quote":"I am really excited to be investing in Moneco! As the first neobank dedicated to Africans, with a focus on French-speaking regions, encompassing 400 million people, Moneco stood out to me with their mission to addresses a critical need for financial inclusion currently poorly addressed by traditional banking systems. I am very impressed about how easy it is for their users to open an account with just a passport which is a a game-changer for migrants who face significant barriers accessing financial services. The user experience on the app is really nice and friendly. Their momentum since the Beta launch with 40,000 sign-ups in just 3 months is incredible and demonstrates substantial demand and trust in the platform. I am really excited to see how many more users they are able to onboard in the next year. Finally, the founding team is bringing a unique blend of strategic / business / technical and operational skills in this adventure which will be key for them to continuing growing and scaling. I can't wait what's next for Moneco!"}],"relationships":[{"source_entity_id":"wefunder:company:123455","relation":"has_team_member","target_entity_id":"wefunder:user:4439586","target_url":"https://wefunder.com/bilal.dahlab"},{"source_entity_id":"wefunder:company:123455","relation":"has_team_member","target_entity_id":"wefunder:user:4436605","target_url":"https://wefunder.com/shams.radjabaly"},{"source_entity_id":"wefunder:company:123455","relation":"has_team_member","target_entity_id":"wefunder:company_role:3079415"},{"source_entity_id":"wefunder:company:123455","relation":"has_featured_investor","target_entity_id":"wefunder:notable_investor:7250","target_url":"https://wefunder.com/ycombinator"},{"source_entity_id":"wefunder:company:123455","relation":"has_featured_investor","target_entity_id":"wefunder:notable_investor:444","target_url":"https://wefunder.com/alan.rutledge.1"},{"source_entity_id":"wefunder:company:123455","relation":"has_featured_investor","target_entity_id":"wefunder:user:4577399","target_url":"https://wefunder.com/rayane.radjabaly"},{"source_entity_id":"wefunder:company:123455","relation":"has_latest_fundraise","target_entity_id":"wefunder:fundraise:70522"}],"faq":[{"question":"How did you derive your $20M valuation?","answer":"Hi Justin, Very sorry for the late reply. We struggled more than expected to go live (had to rebuild the Neobank 3 times), the valuation was derived from YC comparables (mostly Lemfi and Nala which have similar activities but in english speaking Africa)."},{"question":"How will you stop competitors?","answer":"By being better, faster and especially closer to our users ;)"},{"question":"When would you expect breakeven?","answer":"At 20-30k card holders, we started about 2 months ago and currently have 2k card holders. With a good growth, we can break-even by the end of the year (to keep in mind that our revenue are in euro while our costs are in African currency which gives us a strong edge)"},{"question":"Hey folks I understand the problem you're solving here and see its value however I have below questions to help inform my intention to put some money into this: how did you reach your evaluation (are there financials or market opportunity to inform this)? \u0026amp; Lastly which re...","answer":"Hi Dan, Really feally sorry for the late reply. We're currently closing the campaign and I just noticed your question (go live took much more time than expected due to compliance). So you can check our latest metrics in the recent update, we have generated EUR110k in 6month after our launch. Some comparables would be Lemfi or Nala, we have access to their early metrics and did a better launche. Their valuation was at $30m, but it was 2021. About the market, we currently have most of our tract..."},{"question":"is this an investment opportunity for moneco or another venture named neobank please clarify as im slightly confused?","answer":"Hi Ali, the investment is for Moneco which is a Neobank :)"}],"recent_posts":[],"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-11T07:00:07Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-11-19T19:10:31Z","as_of":"2026-06-11T07:00:07Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-11-19T19:10:31Z","as_of":"2026-06-11T07:00:07Z","confidence":"medium"}}}}}}