Nigerian API Fintech Mono Raises USD 2 Mn Seed Funding

Mono, a Nigerian API fintech startup, has raised USD 2 Mn in seed funding to help fuel the African Internet economy. This announcement comes months after the startup announced its acceptance into Y Combinator’s Winter 2021 batch in February.

Investors in the round include Entrée Capital, Kuda co-founder and CEO Babs Ogundeyi; Gbenga Oyebode, partner at TCVP; and Eric Idiahi, co-founder and partner at Verod Capital. New York but Africa-based VC Lateral Capital also invested after taking part in Mono’s pre-seed.

Mono unifies financial data into a single API for businesses and third-party developers. It facilitates the retrieval of data such as revenue, account statements, real-time balances, and previous transactions. The startup also aims to boost Africa’s financial inclusion and connectivity.