Lateral Capital backs Nigerian fintech company

Nigerian fintech company Mono has raised a $500,000 pre-seed round from Lateral Capital, Ventures Platform, Golden Palm, Rally Cap Ventures, Idriss Bello, Olumide Soyombo and other strategic investors.

Mono’s mission is to become the go-to financial data infrastructure API platform in Africa.

With this new funding, Mono will continue product development efforts to expand coverage of its data API to include more sources (USSD) and countries; launch direct debit in partnership with payment gateways; develop new API verticals and developer tools; and hire the core team.

The service is now live in Nigeria and the company is currently testing beta bank connections in Ghana and Kenya.

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