Moni, the Y Combinator–backed fintech known for its community-powered lending model, has rebranded as Rank, marking a bold step toward building what it calls “a money app for communities.”
The rebrand comes alongside two major acquisitions: AjoMoney, a digital group-savings platform, and Zazzau Microfinance Bank, a licensed financial institution. Together, they will power Rank’s mission to digitise Africa’s traditional community finance systems and extend full banking services to individuals and businesses.
“Rebranding from Moni to Rank marks a new chapter in our mission to make prosperity common,” said Femi Iromini, CEO of Rank. “Rank is about rising together building a financial system powered by community, trust, and shared progress.”
Rank’s strategy builds on Africa’s long-standing traditions of cooperative saving and lending from ajo and esusu in Nigeria to tontines across Francophone Africa while leveraging modern infrastructure to scale these networks beyond local boundaries.
Through its pilot program, Rank onboarded over 10,000 users from trader associations, cooperatives, and neighbourhood groups, enabling group savings starting from ₦150,000 ($100). The pooled funds, invested in treasury bills and money markets, delivered returns of up to 23%, with over ₦16 billion ($11.25 million) in payouts, signalling a strong demand for trusted, community-based finance.
With the integration of AjoMoney’s savings technology and Rank Microfinance Bank (formerly Zazzau MFB)’s regulatory license, Rank now has the infrastructure to deliver secure savings, investments, and credit to communities across Nigeria.
“AjoMoney was built to make access to finance simple, fair, and powered by community,” said Ibrahim Adepoju, CEO of AjoMoney. “Passing this vision to Rank is a natural next step they’re positioned to scale it across Africa.”
Dr. Mohammed Usman, Director at Zazzau Microfinance Bank, added: “The idea of a money app for communities excites us. This partnership is a natural fit and strengthens financial access for Africans.”
Rank says it plans to expand its product suite with wealth advisory support, personalised financial guidance, and smart tools that help users collectively save, spend, and grow.
As it expands, Rank is positioning itself at the intersection of trust, technology, and tradition, transforming age-old cooperative models into a digital force for inclusive finance across Africa.
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