{"data":{"type":"company_profile","id":123455,"entity_id":"wefunder:company:123455","attributes":{"canonical_url":"https://wefunder.com/moneco","generated_at":"2026-06-11T06:59:44Z","updated_at":"2026-06-11T05:00:49Z","entity_ids":{"company":"wefunder:company:123455","slug":"wefunder:company_slug:moneco"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-11T06:59:44Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T06:59:44Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-11T05:00:49Z","as_of":"2026-06-11T06:59:44Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-11-19T19:10:31Z","as_of":"2026-06-11T06:59:44Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-11-19T19:10:31Z","as_of":"2026-06-11T06:59:44Z","confidence":"medium"}}},"company":{"id":123455,"entity_id":"wefunder:company:123455","slug":"moneco","name":"Moneco (YC S22)","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","location":"Delaware City, Delaware","website":"https://moneco.app","total_amount_raised":124000,"total_investors":275,"is_funded":true,"is_active":true,"quality_score":4,"related_urls":["https://wefunder.com/moneco","https://moneco.app"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/123455/xxl_blob.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/123455/large_Moneco__YC_S22__logo_1664753586868.jpeg","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/123455/standard_blob.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/123455/standard_blob.jpg","profile_video_url":"https://wefunder.wistia.com/medias/9jfb8eizj1"},"links":{"company_url":"https://moneco.app","linkedin_url":"https://www.linkedin.com/company/monecohq/","facebook_url":"https://facebook.com/MonecoHQ/","instagram_url":"https://instagram.com/moneco.app/"},"highlights":[{"id":62781,"name":"venture_backed","url":"venturebacked","presentable_name":"VC-Backed","description":"Raised $250K or more from a venture firm","image_url":"https://uploads.wefunder.com/2021/profile-highlights-check.svg"},{"id":62735,"name":"y_combinator","url":"ycombinator","presentable_name":"Y Combinator","description":"Raised from Y Combinator","image_url":"https://uploads.wefunder.com/2021/profile-highlights-yc.svg"}],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"First Neobank for Africans with a focus on French speaking regions (400m inhabitants, 300m unbanked)"},{"index":2,"claim_id":"claim-fact-2","value":"Official launch in April 24', 40k sign-ups 3 months later"},{"index":3,"claim_id":"claim-fact-3","value":"Addressing a market of 20m in Europe (diaspora) and 400m people in Africa"},{"index":4,"claim_id":"claim-fact-4","value":"Only Neobank enabling its users to open account with only their passport"},{"index":5,"claim_id":"claim-fact-5","value":"Only Neobank offering banking services and remittances in the same app, in French speaking Africa"},{"index":6,"claim_id":"claim-fact-6","value":"$1.5m raised from YC, Kima Ventures, Soma Ventures, Alan Rutledge, CEO of BloomTech, HoaQ, etc."},{"index":7,"claim_id":"claim-fact-7","value":"Business model with revenue in EUR and costs in African currencies, operational costs very low"}],"team":[{"id":3072718,"entity_id":"wefunder:company_role:3072718","user_entity_id":"wefunder:user:4439586","role":"founder","name":"Bilal Dahlab","title":"Co-Founder \u0026 CEO","bio":"Former Associate at the Boston Consulting Group, former banker at Lombard Odier \u0026amp; Cie","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/3072718/square_blob.jpg?1724706143","profile_url":"https://wefunder.com/bilal.dahlab","linkedin_url":"https://www.linkedin.com/in/bilal-dahlab-3a98a243/","related_urls":["https://wefunder.com/bilal.dahlab"]},{"id":3079416,"entity_id":"wefunder:company_role:3079416","user_entity_id":"wefunder:user:4436605","role":"founder","name":"Shams Radjabaly","title":"Co-Founder \u0026 COO","bio":"Former Associate at the Boston Consulting Group and trader at Société Générale, Forbes 30 under 30 Afrique","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/3079416/square_blob.jpg?1724706143","profile_url":"https://wefunder.com/shams.radjabaly","linkedin_url":"https://www.linkedin.com/in/shams-radjabaly/","related_urls":["https://wefunder.com/shams.radjabaly"]},{"id":3079415,"entity_id":"wefunder:company_role:3079415","role":"founder","name":"Kuassi Jimmy Kumako","title":"Co-Founder \u0026 CTO","bio":"Former Google and Paystack developer, co-founded CoinAfrique (first secondhand marketplace in Western Africa)","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/3079415/square_blob.jpg?1724706143","linkedin_url":"https://www.linkedin.com/in/jkumako/","related_urls":[]}],"featured_investors":[{"id":9466,"entity_id":"wefunder:company_investor_profile:9466","investor_profile_id":3633762,"investor_profile_entity_id":"wefunder:investor_profile:3633762","subject_entity_id":"wefunder:notable_investor:7250","name":"Y Combinator","role_title":"","bio":"Startup accelerator and VC firm that's launched over 4,000 companies, including Airbnb, Coinbase, DoorDash, Dropbox, Instacart, Reddit, and Stripe","avatar_url":"https://wefunder.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MzAyMDQsInB1ciI6ImJsb2JfaWQifX0=--ce146950df5e17ddfae9d1e026b4fb87dd2bc7ab/1200px-Y_Combinator_logo.svg.png","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.","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/ycombinator"]},{"id":9467,"entity_id":"wefunder:company_investor_profile:9467","investor_profile_id":3633057,"investor_profile_entity_id":"wefunder:investor_profile:3633057","subject_entity_id":"wefunder:notable_investor:444","name":"Alan Rutledge","role_title":"","avatar_url":"https://uploads.wefunder.com/2021/user_default_icon_circle.png","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.","endorsement_name":"","is_lead_investor":false,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/alan.rutledge.1"]},{"id":10515,"entity_id":"wefunder:company_investor_profile:10515","investor_profile_id":4068393,"investor_profile_entity_id":"wefunder:investor_profile:4068393","subject_entity_id":"wefunder:user:4577399","name":"Rayane Radjabaly","role_title":"","bio":"Seasoned tech sales leadership looking to support the next generation of Fintechs","avatar_url":"https://uploads.wefunder.com/2021/user_default_icon_circle.png","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!","endorsement_name":"","investment_total":500,"investment_info":"Invested $500 this round","is_lead_investor":true,"memo_paid_for_by_company":false,"related_urls":["https://wefunder.com/rayane.radjabaly"]}],"investor_memos":[],"tab_counts":{"posts":0,"ask_questions":24,"featured_investors":3,"faq_entries":5},"active_fundraises":[{"id":70522,"entity_id":"wefunder:fundraise:70522","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":50000.0,"minimum_target":"50000.0","maximum_target":"124000.0","funding_started_at":"2025-01-30T01:34:38Z","funding_closed_at":"2025-03-19T04:03:42Z","auto_close_at":"2025-03-19T03:59:59Z"},{"id":70661,"entity_id":"wefunder:fundraise:70661","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"ttw","security_type":"equity","currency":"USD","testing_the_waters":true,"min_purchase":100,"max_purchase":9,"funding_target":124000.0,"minimum_target":"50000.0","maximum_target":"124000.0","funding_started_at":"2022-09-23T19:48:42Z"}],"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","terms":{"eb":null,"nb":"$20M","txt":"valuation cap"}},"recent_posts":[],"q_and_a":[{"id":221956,"entity_id":"wefunder:comment:221956","question":"How did you derive your $20M valuation?","author_name":"Justin Entrekin","votes":19,"created_at":"2022-10-12T13:32:24Z","canonical_url":"https://wefunder.com/moneco#question-221956","answers":[{"id":287902,"entity_id":"wefunder:comment:287902","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).","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:31:38Z"}]},{"id":258115,"entity_id":"wefunder:comment:258115","question":"Why aren’t peoples questions being answered? Am I missing something?","author_name":"Nate Martin","votes":14,"created_at":"2023-08-12T11:43:03Z","canonical_url":"https://wefunder.com/moneco#question-258115","answers":[{"id":287903,"entity_id":"wefunder:comment:287903","answer":"Hi Nate, Very very sorry for the late reply, we did not want to promote our WeFunder campaign before go live and present good traction. Things are now up and running, I have updated our campaign if you want to have a look. And I'm available for any question :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:32:42Z"}]},{"id":248879,"entity_id":"wefunder:comment:248879","question":"A) how are you able to get your costs down to the point you can charge 0-2% in a sustainable business? b) how are you handling anti-money laundering, KYC and other compliance? Those are significant costs for banks and your competitors. C) if not from transaction costs, where are your revenues coming from?","author_name":"Matthew Rosales","votes":12,"created_at":"2023-06-01T21:32:25Z","canonical_url":"https://wefunder.com/moneco#question-248879","answers":[{"id":287904,"entity_id":"wefunder:comment:287904","answer":"Hi Matthew :) a) Importers in Africa need strong currency (EUR, USD, GBP) to import goods in their country, their central banks do not have enough foreign currency to sustain the demand. Through remittances we have access to strong currency and want local currency, so we swap and ask for a margin to importers in Africa. b) We have a lot of monitoring at the onboarding (we scrap internet to get info on our users), then monitoring for transactions. Last, we currently are in partnership with the second largest French Bank, a lot of compliance enter into their scope c) So at Moneco, opening an account is free and there is no maintenance fees. However, we have 3 types of revenue streams --\u0026gt; order a card (20eur - one time fee), owing the card (1.5eur per month - recurring), transactions (cash withdraw, remittances, interchange, international payment, top-up, etc)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:40:10Z"}]},{"id":256785,"entity_id":"wefunder:comment:256785","question":"Please compare and contrast your service to those of Remitly.","author_name":"Tony Shouse","votes":6,"created_at":"2023-08-02T12:15:33Z","canonical_url":"https://wefunder.com/moneco#question-256785","answers":[{"id":287906,"entity_id":"wefunder:comment:287906","answer":"Remitly only does remittances, we offer Neobank + remittances (both activities require distinct licences, it is very complicated to do both)","author_name":"Bilal Dahlab","votes":1,"created_at":"2024-07-16T18:41:13Z"}]},{"id":222032,"entity_id":"wefunder:comment:222032","question":"How will you stop competitors?","author_name":"Aslam Amin","votes":6,"created_at":"2022-10-13T10:52:52Z","canonical_url":"https://wefunder.com/moneco#question-222032","answers":[{"id":287905,"entity_id":"wefunder:comment:287905","answer":"By being better, faster and especially closer to our users ;)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:40:30Z"}]},{"id":297094,"entity_id":"wefunder:comment:297094","question":"Hi, have you filed the form C?","author_name":"Noah Posner","votes":4,"created_at":"2024-11-28T16:28:08Z","canonical_url":"https://wefunder.com/moneco#question-297094","answers":[{"id":297106,"entity_id":"wefunder:comment:297106","answer":"Hi Noah, Yes, it's in process. I'm filling the last documents with WeFunder right now :)","author_name":"Bilal Dahlab","votes":1,"created_at":"2024-11-28T17:38:18Z"}]},{"id":273826,"entity_id":"wefunder:comment:273826","question":"How can you make a profit with the 0% transfer fees option? Is this a loss leader?","author_name":"Michael Fowlie","votes":4,"created_at":"2024-01-13T04:32:17Z","canonical_url":"https://wefunder.com/moneco#question-273826","answers":[{"id":287908,"entity_id":"wefunder:comment:287908","answer":"Hi Michael, This is a very good question :) Actually, importers in Africa need strong currency (EUR, USD, GBP) to import goods in their country, their central banks do not have enough foreign currency to sustain the demand. Through remittances we have access to strong currency and want local currency, so we swap and ask for a margin to importers in Africa.","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:44:05Z"}]},{"id":306361,"entity_id":"wefunder:comment:306361","question":"Can you provide updates to how things are going? Positives and negatives. Q4 and Q1 highlights? How is revenue looking? Projections for the rest of the year? What impact did the Visa Accelerator program have on the business? Do you see future external investment needs, or will revenue increase to offset that need initially? I have noticed an increase in competitors in your area, with some of the bigger companies headed your way, what are you doing to secure your base users, and continue on your path to growth?","author_name":"Andrew Osborn","votes":3,"created_at":"2025-04-18T17:32:17Z","canonical_url":"https://wefunder.com/moneco#question-306361","answers":[{"id":306787,"entity_id":"wefunder:comment:306787","answer":"Hi Andrew, Thanks for your email. Here are some updates : Q4 24' : - grew +30% MoM - reach +$350K in annualized revenue - reach +$4M in monthly transactions Q1 25' - the tensions between France-Algeria-Africa have caused us some troubles, our bank partner has prevented us from onboarding new users and eventually did not want to continue collaborate with us due to a \"reputational risk\". We had to switch very quickly and are now back on track with a new offer from Ireland/US instead of France - the VISA Fintech accelerator program was great in terms of exposure and for meeting other African Fintech - Our goal for this year is to reach 20k active users - Yes we are currently raising our Seed Round, we raise 3m, have 1.9 committed. If you know any VC/investor that could be interested in our play I'd be glad to meet them! - About competition, some markets in Africa are getting more challenging (mostly english speaking). Nonetheless, French speaking Africa and espacially North Africa, our offer is still unique Hope it helps, if you'd like to have more information let me know :)","author_name":"Bilal Dahlab","votes":2,"created_at":"2025-04-24T15:56:38Z"}]},{"id":301636,"entity_id":"wefunder:comment:301636","question":"Hello Moneco Team, I’m Zac Stahlhut with D3VC, a venture fund specializing in investment crowdfunding. We have a few questions to better understand your business model and growth trajectory. Could you clarify what you mean by the 1.5€ recurring monthly card fee—does this fee apply to each user, and is this a significant portion of your revenue? Additionally, what were your revenues like in 2024 across your different revenue streams, and how are you capitalizing on interchange fees or other financial services? Lastly, we’d like to know more about your user demographics—who are your current users, and who do you consider your target audience moving forward? We appreciate your time and look forward to hearing more about your approach. Thanks!","author_name":"Zac Stahlhut","votes":3,"created_at":"2025-02-05T20:08:40Z","canonical_url":"https://wefunder.com/moneco#question-301636","answers":[]},{"id":299616,"entity_id":"wefunder:comment:299616","question":"Hi Bilal, just curious as to why this hasn't closed yet.","author_name":"Andrew Osborn","votes":3,"created_at":"2025-01-07T15:29:30Z","canonical_url":"https://wefunder.com/moneco#question-299616","answers":[{"id":299843,"entity_id":"wefunder:comment:299843","answer":"Hi Andrew, We are waiting from the SEC for the form C, I think the delayed is caused by the end of the year celebrations. Hope we'll get it next week :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2025-01-10T17:29:14Z"}]},{"id":295056,"entity_id":"wefunder:comment:295056","question":"Can you provide updates to how things are going? Positives and negatives. Funding seems to have slowed down, and your post mentioned you were supposed to close funding at the end of the summer, do you plan on keeping this funding round open much longer?","author_name":"Andrew Osborn","votes":3,"created_at":"2024-10-25T18:14:42Z","canonical_url":"https://wefunder.com/moneco#question-295056","answers":[{"id":296141,"entity_id":"wefunder:comment:296141","answer":"Hi Andrew, Thanks a lot for your message, things are going pretty well at the moment! Positive : we just got selected by VISA to participate in their fintech program in Africa (top 5% African fintech), we have released our new onboarding flow in october (+50% conversion from sign-up to KYC validated), we have release virtual cards 2 weeks ago and are selling plenty, october has been a pretty good month +40% revenue vs September. Challenge : remittances are already up and running on the app, however we have to fine-tune some legal details which requires more time than expected. It is quite frustrating because we cannot communicate around despite it being ready. About the campaign, I will close it this month since we are now preparing our Seedround with VCs :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-11-13T09:01:15Z"}]},{"id":283287,"entity_id":"wefunder:comment:283287","question":"Hello. Have major funds ($M's) in Libya, need mechanism to move to Europe. Stephen 303.598.4624 Current problem is bank liquidity, please call me.","author_name":"Stephen Kirk Boulter","votes":3,"created_at":"2024-05-09T17:15:36Z","canonical_url":"https://wefunder.com/moneco#question-283287","answers":[{"id":297104,"entity_id":"wefunder:comment:297104","answer":"Hi Stephen, Really would like to help you, but Lybia is on every black list, at our stage of progress we cannot do anything to help :(","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-11-28T17:26:26Z"}]},{"id":257489,"entity_id":"wefunder:comment:257489","question":"When does the investment period close?","author_name":"Cornelius Young","votes":3,"created_at":"2023-08-08T02:52:08Z","canonical_url":"https://wefunder.com/moneco#question-257489","answers":[{"id":287909,"entity_id":"wefunder:comment:287909","answer":"End of summer 24' :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:44:20Z"}]},{"id":256555,"entity_id":"wefunder:comment:256555","question":"Me gustaría preguntar 3 puntos que para mi son muy importantes . 1. La inversión que realiza el inversor como queda protegida legalmente? Es decir, como quedo protegida, bajo que instrumento legal. 2. como se maneja el tema de PLD , como nos protegen a los inversionistas de que las inversiones sea licitas.? 3. la aportación que realizamos los inversionistas como se maneja fiscalmente?","author_name":"Carolina DIAZ","votes":3,"created_at":"2023-07-31T20:32:08Z","canonical_url":"https://wefunder.com/moneco#question-256555","answers":[]},{"id":241492,"entity_id":"wefunder:comment:241492","question":"is this an investment opportunity for moneco or another venture named neobank please clarify as im slightly confused?","author_name":"Ali Ali","votes":3,"created_at":"2023-04-03T12:50:46Z","canonical_url":"https://wefunder.com/moneco#question-241492","answers":[{"id":297103,"entity_id":"wefunder:comment:297103","answer":"Hi Ali, the investment is for Moneco which is a Neobank :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-11-28T17:25:42Z"}]},{"id":229272,"entity_id":"wefunder:comment:229272","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 regions are you going to pilot in when you meet the funding goal?","author_name":"Dan Nyabadza","votes":3,"created_at":"2022-12-22T13:48:58Z","canonical_url":"https://wefunder.com/moneco#question-229272","answers":[{"id":297102,"entity_id":"wefunder:comment:297102","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 traction from Algeria. Algeria is the nb 1 diaspora in France with very famous people (Mbappe, Zidane, etc) and people in Algeria really struggle with financial services. So the link start there, we'll then replicate in other french speaking countries in Africa :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-11-28T17:25:17Z"}]},{"id":224054,"entity_id":"wefunder:comment:224054","question":"When would you expect breakeven?","author_name":"Justin Entrekin","votes":3,"created_at":"2022-10-28T17:18:38Z","canonical_url":"https://wefunder.com/moneco#question-224054","answers":[{"id":287907,"entity_id":"wefunder:comment:287907","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)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-07-16T18:42:19Z"}]},{"id":324939,"entity_id":"wefunder:comment:324939","question":"Hey Guys Any updates?","author_name":"John Rockwell","votes":2,"created_at":"2026-02-11T00:15:54Z","canonical_url":"https://wefunder.com/moneco#question-324939","answers":[{"id":325852,"entity_id":"wefunder:comment:325852","answer":"Hi John, Yes, a few positive updates on our side: - We’re now at 10k active users - Revenue has grown 4x since August - We’re getting close to break-even - We’ve received a term sheet (currently reviewing, terms are quite aggressive) - We're about to sign with a new bank partner that will enable us to offer the same product at a fraction of the current cost Happy to share more details if helpful. Bilal","author_name":"Bilal Dahlab","votes":0,"created_at":"2026-02-20T12:48:22Z"}]},{"id":310989,"entity_id":"wefunder:comment:310989","question":"Hi Bilal, Thank you for the detailed update — very helpful and encouraging to see the momentum despite the banking headwinds. I’d love to follow up with a few deeper questions that could help clarify the traction and roadmap, especially in light of Moneco 2.0 and the ongoing seed round. Moneco 2.0: Can you share more about what was rebuilt in the new version — product features, user experience improvements, or infrastructure changes? How is adoption looking so far since the relaunch? USDC/Solana Integration: How are you approaching compliance and risk management for the crypto feature? Is this live already, and do you plan to expand to other chains or tokens? User Metrics: You mentioned a goal of 20k active users — where do you stand currently? What’s the typical user profile, and what markets are contributing most to growth? Monetization \u0026amp; Revenue Streams: Beyond the €1.50/month fee, what other monetization strategies are in play or planned (e.g. FX spreads, remittance fees, partnerships)? Partnerships: Have any institutional, remittance, or telco partners been finalized or piloted with since the banking transition? Are you working with any African payment processors? Churn and Retention: What does user retention look like month over month? Are users staying active long-term or mostly onboarding for single-use cases? Fundraising: With $1.9M of $3M committed, what does the ideal investor profile look like? Are you focusing more on strategic fintech/impact investors or institutional VC? Regulatory Landscape: With cross-border payments and expanding into crypto, are you facing regulatory friction in your key markets? How are you managing KYC/AML across multiple regions?","author_name":"Andrew Osborn","votes":2,"created_at":"2025-07-08T18:23:50Z","canonical_url":"https://wefunder.com/moneco#question-310989","answers":[{"id":325851,"entity_id":"wefunder:comment:325851","answer":"Hi Andrew, I hope you're doing well, and I'm really sorry for the late reply. Thanks again for the thoughtful questions, happy to clarify. Moneco 2.0 With Moneco 2.0, the biggest shift is geographic and infrastructural. We can now onboard users across Europe and Africa, whereas previously we were limited to the African diaspora living in France. Users now have access to: - A European account - A US account - A USDC wallet - A VISA card - Remittance capabilities Our metrics are progressing well and we are getting very close to break-even. That said, the product still has some friction points we are actively improving. For example: - Users currently pay a $5 upfront fee, which creates a significant paywall - We don’t yet have a free tier - We currently display balances only in USD, even when users transact in EUR So overall, traction is strong, but we are focused on refining the experience to unlock higher conversion and engagement. USDC Integration Yes, USDC is live. From a compliance perspective, we apply transaction monitoring rules that are aligned with traditional banking standards. Crypto is treated strictly as a payment rail — not as an investment product — and integrated within our broader compliance framework. User Metrics We currently stand at 10,000 active users. Given the operational bottlenecks we’ve experienced, I believe growth would have been significantly higher without those constraints. With the new infrastructure in place and product improvements underway, we expect to accelerate further. Monetization 75% of revenue comes from transaction-based fees, 25% comes from account opening (one-time fee). We have grown our revenue 4x since August and are getting close to break-even We monetize: Bank transfers Card payments Remittance Partnerships We have integrated most telco providers in our operating geographies as remittance endpoints for beneficiaries. In parallel, we are in discussions with a large North African telco for a potential partnership, where the objective would be to issue cards to their customer base. Fundraising Given our growth trajectory, we recently received a term sheet from an African VC. However, the terms are quite aggressive, so we may not proceed. To date: $1M received $1M in soft commit $1M still to close We’ve had stronger alignment so far with institutional and fintech-focused VCs. If you believe you could support us in that regard, we would greatly appreciate it. Regulatory In 2025, we obtained our MSB licence in Canada, which covers the majority of our operational needs. Everything we currently offer is compliant with our licensing framework. That said, certain African jurisdictions have specific restrictions — particularly around crypto. In those cases, we disable the feature by default in the app unless explicitly requested and permissible under local regulations. We prioritize compliance and controlled expansion over aggressive rollout. Best, Bilal","author_name":"Bilal Dahlab","votes":0,"created_at":"2026-02-20T12:35:35Z"}]},{"id":305197,"entity_id":"wefunder:comment:305197","question":"Would you consider running investor webinars or Q\u0026amp;A live streams? (e.g. quarterly)","author_name":"Toni Kuschan","votes":2,"created_at":"2025-04-02T13:46:39Z","canonical_url":"https://wefunder.com/moneco#question-305197","answers":[]},{"id":297270,"entity_id":"wefunder:comment:297270","question":"Hello, Your round is oversubscribed. Will you be taking all investments? Thanks!","author_name":"Jorinda Vide","votes":2,"created_at":"2024-12-02T15:57:05Z","canonical_url":"https://wefunder.com/moneco#question-297270","answers":[{"id":297303,"entity_id":"wefunder:comment:297303","answer":"Hi Jorinda, Yes we'll be taking all investments :) But you should hurry up because I have submitted all the documents to WeFunder so the campaign will close pretty soon.","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-12-03T07:56:50Z"}]},{"id":291130,"entity_id":"wefunder:comment:291130","question":"will our investment be converted in shares? what is share prices? will you pay dividends? yearly? quaterly? monthly?","author_name":"Hugo Amaral","votes":2,"created_at":"2024-08-27T19:49:38Z","canonical_url":"https://wefunder.com/moneco#question-291130","answers":[{"id":297105,"entity_id":"wefunder:comment:297105","answer":"Hi Hugo, Yes the investment will be converted in share for our Serie A. We aim to convert at a valuation of 50m at least. Yes we'll pay dividend when we'll be profitable, most likely yearly. By the way I'm closing the campaign, you maybe could have a look at our latest update in case you'd be interested :)","author_name":"Bilal Dahlab","votes":0,"created_at":"2024-11-28T17:37:53Z"}]},{"id":224318,"entity_id":"wefunder:comment:224318","question":"Any investor perks ?","author_name":"Adan Farrah","votes":2,"created_at":"2022-10-31T18:50:19Z","canonical_url":"https://wefunder.com/moneco#question-224318","answers":[]},{"id":334327,"entity_id":"wefunder:comment:334327","question":"Hi Bilal, Thanks for the detailed February update. It was great to see the progress to 10k active users, the strong revenue growth, and the Moneco 2.0 expansion. Would you be able to share a brief high-level update on where things stand now? Specifically curious about: Current active user count and growth trend Revenue trajectory and progress toward break-even/profitability Status of the Seed round / fundraising Any notable product, partnership, or operational developments since February Appreciate any update you can share. Keep up the great work!","author_name":"Andrew Osborn","votes":0,"created_at":"2026-05-26T17:42:16Z","canonical_url":"https://wefunder.com/moneco#question-334327","answers":[]}],"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 :)"}]}}}