Less than 18 months after launching MonieWorld to serve Nigerians in the UK, Moniepoint, the Nigerian fintech unicorn, is discontinuing the diaspora-focused business after what it says was a thorough review of the group’s portfolio and long-term priorities.
“Moniepoint Inc., Africa’s all-in-one financial platform, today announced that MonieWorld, its UK-based remittance business, is undergoing a strategic transition as the Group refocuses its resources on building and scaling its core platform for African businesses,” the company said in a statement shared with TechCabal on Tuesday.
The move marks a shift in Moniepoint’s expansion strategy as it scales back from the UK to double down on markets where it already has scale.
In April 2025, Moniepoint launched MonieWorld, its remittance product that allows UK residents to send money directly from a MonieWorld account, cards, a British bank account, or via Apple Pay and Google Pay to any Nigerian bank account. At the time, the company was targeting a slice of the £2.76 billion ($3.69 billion) UK-Nigeria remittance market.
“MonieWorld has given Nigerians in the diaspora a fast and reliable way to send money directly to any Nigerian bank account, supporting friends and family back home,” the company said in the statement.
