Rank Capital
 | This article is an orphan, as no other articles link to it. Please introduce links to this page from related articles. (September 2026) |
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Native name | Rank |
|---|---|
| Formerly | Moni Africa, Moni |
| Industry |
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| Founded | 2021 |
| Founders | Femi Iromini, Adedapo Sobayo |
| Headquarters | Lagos, |
| Key people | |
| Subsidiaries |
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| Website | Website |
Rank Capital Inc. (marketed as: Rank; formerly Moni and Moni Africa) is a Nigerian financial technology and investment company.[1] It encompasses various businesses, including Rank Microfinance Bank and Rank App.[2] The company provides wealth-management and investment services, while Rank Microfinance Bank provides banking services. Rank App provides financial services for communities.[2] It was founded in 2021 as Moni by Femi Iromini and Adedapo Sobayo.[1]
On 12 May 2026, Financial Times, listed Rank as one of Africa's Fastest-Growing Companies in 2026.[3]
History
[edit]Moni was launched in 2021 and initially focused on group financing for small businesses.[1] Its model used existing community relationships and social trust to organise borrowers into groups and provide access to financing.[1] Y Combinator backed the company, and it participated in the accelerator's program.[4]
Moni's initial business centered on group financing for small businesses, with the company using community structures such as traditional ajo groups as part of its operating model.[1] In 2023, Moni disclosed that it had disbursed nearly ₦67 billion (US$46.62 million) in loans to more than 20,000 businesses and recorded a 96 percent repayment rate.[5]
Moni later expanded from community lending into savings products.[6] The company developed a group-savings model aimed at communities including traders' associations, market unions and neighbourhood cooperatives.[6] TechCabal reported that a pilot of Moni's savings product reached approximately 10,000 business owners and individuals.[1] Participants pooled funds that were invested in government-backed securities such as treasury bills and money-market instruments.[1]
In November 2025, the company rebranded from Moni to Rank and received a switching license from the Central Bank of Nigeria.[7] It announced the acquisition of AjoMoney and Zazzau Microfinance Bank.[7] Following the acquisition, Zazzau Microfinance Bank was renamed Rank Microfinance Bank and became part of its financial services operations.[7]
In 2026, Rank introduced additional community-finance products, including Money Circles, Tribe, and Rank Perks.[8] Money Circles was described as a digital version of rotating savings groups, while Tribe was designed for community financial management and Rank Perks combined workplace savings with credit services.[8]
References
[edit]- 1 2 3 4 5 6 7 Jaiyeola, Temitayo (11 November 2025). "Why Moni rebranded to Rank and bought a bank to back it up". TechCabal. Retrieved 4 September 2026.
- 1 2 "Rank Capital named 7th fastest-growing fintech in Africa by Financial Times". Techcabal. Retrieved 4 September 2026.
- ↑ Pilling, David. "The ranking: Africa's Fastest-Growing Companies 2026". Financial Times. Retrieved 4 September 2026.
- ↑ "Rank". Y Combinator. Retrieved 4 September 2026.
- ↑ Ogunseyin, Oluyemi (25 June 2025). "Firm raises interest rates on savings". The Guardian Nigeria. Retrieved 4 September 2026.
- 1 2 "Moni unveils new community-powered business loans to drive growth for African SMEs". The Guardian Nigeria. 3 April 2023. Retrieved 4 September 2026.
- 1 2 3 Jackson, Tom (12 November 2025). "Nigeria's Moni rebrands as Rank, acquires AjoMoney and Zazzau MFB". Disrupt Africa. Retrieved 4 September 2026.
- 1 2 "Rank launches finance products to expand access to capital". Techcabal 2. Retrieved 4 September 2026.