Moniepoint pulls plug on MonieWorld after 14 months, refocuses on Nigeria, Kenya
Moniepoint is winding down MonieWorld, its UK-based remittance business, just 14 months after launch, in a strategic retreat from the read more Moniepoint pulls plug on MonieWorld after 14 months, refocuses on Nigeria, Kenya
Moniepoint, the Nigerian fintech unicorn, is discontinuing its UK remittance product, MonieWorld, less than two years after its launch. The company made the decision following a thorough review of its portfolio and long-term priorities. MonieWorld, launched in April 2025, allows UK residents to send money directly to Nigerian bank accounts through cards, British bank accounts, or digital wallets.
With a £2.76 billion UK-Nigeria remittance market, MonieWorld aimed to provide a fast and reliable remittance solution for Nigerians in the diaspora. However, the company is now redirecting its resources to Nigeria and Kenya, where it processed $294 billion in annualised transactions in 2025 and acquired a majority stake in a Kenyan microfinance bank.
MonieWorld, built on early-stage investment, recorded a 70% increase in monthly transaction volume among UK diaspora users using cards, Apple Pay, and Google Pay. Despite the stable demand for remittance services, Moniepoint will focus on scaling its core platform for African businesses.
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