Nigerian API Fintech Start-up, Mono has raised pre-seed funding of $500,000 from the New-York based Lateral Capital for operational expansion
Mono seeks to synthesise customers’ different financial bank account while easing the process of accessing information from financial institutions such as bank statement, credits, among others.
The App seeks to resolve a financial data infrastructure in the Application Programming Interface (API) Platform.
Leaving his previous job gave Abdulhamid Hassan an urge to try new things by developing software that will collate customers’ financial accounts from different financial institutions.
Abdulhamid Hassan, the founder said that the Application Programming Interface (API) doesn’t match their taste and would not enable them to carry out tasks as expected.
He further stressed that when their App was deployed, it didn’t take off as expected because customers were not satisfied with the Apps as they preferred the API platform for ease transaction.
This prompts them into more research and action in order to develop a better version that will suit the satisfaction of their customer’s.
Mono’s Technology was designed to solve difficulties in fetching data from Financial Institutions in order to speed up and stabilize any transaction carried out on their platform.
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They made it known that over 16 Nigerian Financial Institutions sign up with them for greater and better coalesce. Companies that have signed up with Mono include but not limited to Flutterwave, Swipe, Anyihealth and Carbon, among others.
Mono Tech is kick starting with customers from Ghana and Kenya, as well as other African countries swiftly. They are also planning to extend their data coverage beyond the shores of Africa.
They connect directly to the customer’s financial account through the company, once the link generated is clicked on from the dashboard.
Mono Tech enables rapid and stable connectivity and integration of financial information.
Mono is a Nigeria API Fintech start-up founded by Abdulhamid Hassan who was a by-product manager at paystack and his co-founder Prakhar Singh, an Indian man who founded an offline payment through bank transfer called Transferpay. ng.
Mono Tech’s competitor in the Nigeria Fintech Platform, Okra raised $1million within a short phase compared to Mono Tech raised $500,000 in pre-seed funding.
