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Nigerian fintech company Moni has rebranded as Rank as it expands from its original lending model to a broader, community-powered financial platform.
The Y Combinator-backed startup, which leverages trusted social networks to deliver financial services, says the new identity reflects its plan to offer a wider range of tools enabling individuals and businesses to save, spend, invest, and manage money all in one place.
Rank’s rebranding and dual acquisition mark a shift towards building a comprehensive, community-focused financial institution rooted in local social structures.
By combining AjoMoney’s digitized version of rotating savings groups with the regulatory framework of a licensed microfinance bank, Rank gains both product depth and compliance capabilities. This enables the startup to compete more directly with neobanks, microfinance institutions, and digital savings platforms, while differentiating itself through socially trusted subscription and the building of collective wealth.
Rank’s first major product under the new brand is a high-yield group savings solution designed for communities such as trade associations, market unions, and neighborhood cooperatives.
In a pilot project involving 10,000 participants, the group savings, backed by Treasury bonds and money market assets, generated returns of up to 23%, with payouts totaling 16 billion NGN.
The strong performance of the pilot savings program—with high returns and significant participation—suggests a demand for alternatives to traditional banks, particularly in communities accustomed to group finance.
Rank is betting that African users trust their networks more than institutions, and that integrating financial products into these networks can reduce risk, increase adoption, and improve outcomes. If successful, Rank could help to formalize informal financial practices on a large scale, create stronger savings pools and expand access to regulated financial services in underserved communities.
