Invest in Moneco (YC S22)

Here at Moneco, we believe in the importance of global links. That's why we are committed to connecting Africa with its diaspora living in Europe.

We noticed that remittances to Africa have the highest fees and believe that this inequality should be fixed, especially as these remittances have been growing every year and are an indispensable source of income for many.

Remittance fees for African migrants, literally dubbed as the "super tax", can be up to 13%, and particularly high for sub-saharan Africa. Moneco offers 0 - 2% rates.

Besides remittance fees, there are many other flaws with the current system. We identified several barriers to sending money to Africa, such as lack of digitization and poor connections with the EU, and created solutions for all of these issues.

Moneco already provides the African diaspora in Europe with unique financial products, such as free remittances and tontines, and intends to expand services to include health insurance, SIM cards, and access to stocks / crypto.

We are currently addressing the diaspora of 12 African countries living in Italy, Spain and France, which represents a market of 5.8 million people. We estimate that with Moneco's features at the most competitive price, the market reaches $2.6 billion.

Moneco's expansion beyond the African diaspora aims to further expand access to efficient and cheap global money sending services.

**market projections not guaranteed

Whilst competitors offer certain benefits, Moneco covers the entire value chain, offering customers a range of products, physical and digital access and competitive pricing all under one roof.

Our 18-month roadmap targets 12 countries to be connected to France, Spain and Italy, and also aims for the availability of many extra services like health and house insurance.

**growth projections not guaranteed

Our experienced team all share a connection to Africa and a passion to bring innovation to Europe and Africa's financial sector.