Moni, the Y Combinator-backed Nigerian fintech known for leveraging social trust and community networks to deliver financial services, has officially rebranded as Rank, reflecting a strategic shift toward providing a broader and more comprehensive suite of financial services across African communities. In line with this transformation, the company has also announced two significant acquisitions: AjoMoney, a leading group savings platform, and Zazzau Microfinance Bank (MFB), a licensed microfinance institution.
Rank now operates as a community-driven money app, enabling individuals and businesses to seamlessly spend, save, invest, and manage their finances all in one platform. The company’s mission remains rooted in converting social capital into financial capital, ensuring that millions of previously underserved individuals and enterprises gain access to trusted, scalable, and innovative financial services through technology-enabled community trust models.
The rebranding from Moni to Rank reflects the company’s broadened vision: to deliver not only basic payments and savings solutions but a full ecosystem of financial products designed for communities. The acquisition of AjoMoney strengthens Rank’s expertise in group savings, while the purchase of Zazzau MFB provides the necessary regulatory framework to offer banking services such as deposits, savings, and small business loans. Following the acquisition, Zazzau Microfinance Bank will now operate as Rank Microfinance Bank, integrating seamlessly into Rank’s platform.
Rank’s community-powered financial ecosystem is designed to transform traditional African approaches to savings, investing, and wealth-building into a modern, technology-driven model. Its first flagship product under the new brand is an enhanced high-yield group savings solution, which converts individual financial progress into a shared, community-based journey.
To pilot this initiative, Rank launched its group savings product to 10,000 business owners and individuals connected through trusted networks, including traders’ associations, market unions, and neighborhood cooperatives. Participants could start saving with as little as NGN150,000 (US$100). Pooled savings were backed by treasury bills and money market instruments, offering returns of up to 23%, substantially higher than typical bank rates. The pilot program yielded total payouts of NGN16 billion (US$11.25 million), validating the demand for community-driven financial solutions and demonstrating the potential for scalable wealth-building.
Rank is also pairing its digital solutions with a team of professional wealth advisors to offer personalized guidance to users. This hybrid model ensures that expert advice is available when needed, providing a human touch alongside digital convenience and fostering trust throughout the wealth-building journey.
“Rebranding from Moni to Rank marks the beginning of a new chapter in our mission to make prosperity a shared experience,” said Femi Iromini, CEO of Rank. “Rank is about rising together—creating a financial system powered by community, trust, and collective progress. The acquisitions of AjoMoney and Zazzau Microfinance Bank are critical milestones in achieving this vision.”
Iromini added that AjoMoney reinforces Rank’s connection to Africa’s longstanding tradition of communal savings, while Zazzau Microfinance Bank provides the regulatory and operational foundation to accept deposits, integrate with NIBSS, and offer a full suite of financial services. Together, these steps accelerate Rank’s mission of building a money app that empowers individuals and communities to save, spend, and grow their wealth collectively, rather than in isolation.
Ibrahim Adepoju, CEO of AjoMoney, stated that the company was created to simplify financial access through community collaboration. “We modernized one of Africa’s oldest financial traditions—rotating savings and credit associations—and brought it into the digital era. Handing over this vision to Rank is a natural progression. With their expertise in digital banking and community finance, Rank is well-positioned to expand this mission across Africa, delivering affordable, accessible financial services to millions,” he said.
Dr. Mohammed Usman, director at Zazzau Microfinance Bank, also expressed enthusiasm about the partnership. “The vision of a community-focused money app is extremely compelling. Joining Rank allows us to significantly increase financial access for Africans and contribute meaningfully to providing value for individuals and businesses across the continent,” he said.
With this rebranding and strategic expansion, Rank is set to redefine financial inclusion in Africa, leveraging technology and community trust to build a system that allows millions to save, invest, and grow wealth together, creating shared prosperity at scale.
