How did you derive your $20M valuation?

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).

How will you stop competitors?

By being better, faster and especially closer to our users ;)

When would you expect breakeven?

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)

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)? & Lastly which re...

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...

is this an investment opportunity for moneco or another venture named neobank please clarify as im slightly confused?

Hi Ali, the investment is for Moneco which is a Neobank :)

Moneco (YC S22) Updates, Team, and Funding Progress | Wefunder, Home of the Community Round

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

Moneco (YC S22)

Neobank for 400m French-Speaking Africans

$124,000

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Moneco (YC S22)

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$124,000

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