Nigeria - Startup under 3 years old

Décrivez votre projet en quelques mots

Monapp is a fintech mobile app project in the payments space aimed at taking Africa 100% cashless

01.01 Décrivez votre startup en détail

Monapp is taking up the challenge of increasing Africa's financial inclusion levels and ensuring 100% transition to cashless payments through personalized financial education, personalized customer support and flexible payment options suited to a society with low purchasing power and mistrust of online transactions such as Africa. Our approach employs the use of BROKERS(An agency banking model where individuals offer financial education and customer support remotely to a portfolio of clients and earn from the transaction fee whenever customers from their portfolio makes a transaction) to scale FLEXIBLE PAYMENT OPTIONS (like Instant Transfers, Buy Now Pay Later (BNPL), save-to-buy, Escrow payment and much more that ensures both paying and receiving payment for goods and services online or offline is easy and convenient for customers of all income levels. )

01.02 Quel est le problème principal que vous essayez de résoudre ?

Monapp is solving the issue of financial inclusion and cash dominance in Africa. Despite the growing number of POS terminals and mobile money accounts, financial inclusion levels in Africa is still substantially lower than the global average of 76 percent. Cash is still king in the region and underneath what appears to be Africa embracing digital payments, the reality on the ground tells a different story of POS systems being used primarily for cash withdrawals, rather than actual digital transactions.

01.03 Dites-nous quels sont les principaux avantages et/ou bénéfices de l'utilisation du produit/service fourni par votre startup (au moins 3).

As an individual customer, my Monapp Broker will provide me with personalized support and education to overcome obstacles like language barriers, lack of knowledge, and technical difficulties, making it easy for me to navigate the platform, resolve issues, and make digital payments with confidence. As a low-income earner with no financial history, I'll enjoy flexible payment options like buy-now-pay-later and save-to-buy, enabling me to make convenient and manageable payments, transition from cash to digital payments, and enjoy the benefits of financial inclusion. As a small business owner, I can finally put aside the worry of transaction errors and the time-consuming process of resolving them. With Monapp, I can quickly get help from my dedicated Broker to resolve any issues, so I can focus on growing my business. Plus, I can offer my customers flexible payment options that work for them, without sacrificing my own cash flow - it's a win-win!

01.04 Veuillez décrire précisément à qui s'adresse le produit/service de votre startup. Quels sont les bénéficiaires visés ?

Monapp is designed to serve a wide range of users in the African market, particularly those with low purchasing power and a mistrust of online transactions. The targeted beneficiaries include: Individuals: Everyday users looking for secure, flexible, and convenient ways to make purchases, and send or receive money. Small and Medium-Sized Enterprises (SMEs): Businesses seeking reliable financial tools to facilitate transactions, manage customer payments, and grow their operations. Underbanked and Unbanked Populations: Individuals and communities with limited access to traditional banking services, who need alternative payment options to participate in the digital economy.

01.05 Quand votre entreprise a-t-elle été créée ?

17/05/2024

01.06 Vendez-vous déjà votre produit/service ?

Non

01.07 Combien y a-t-il de propriétaires de votre entreprise en plus de vous ?

0

01.08 Parmi les autres propriétaires, combien sont des femmes ?

0

01.09 Veuillez décrire le profil des autres propriétaires de votre startup (compétences, expérience, etc.).

I leverage my expertise in IT and HR to drive innovation. My HR background enables me to manage teams and ensure compliance. I've worked in microfinance, handling customer service, loan applications, and payroll processing. I'm passionate about harnessing technology to enhance financial inclusion and streamline transactions. I'm confident that i am equipped to lead this project to success. https://www.linkedin.com/in/michael-ihieri-aa6646a0

01.10 Si vous avez un site web, une page sur les médias sociaux (Facebook, Instagram, Linkedin...) ou une application, veuillez fournir le(s) lien(s) ici :

https://www.monapp.ng

01.11 Quel est le secteur d'activité qui décrit le mieux votre entreprise ?

Services financiers

02.01.01 Ma startup contribue à l'objectif 'Pas de pauvreté'

7 - tout à fait d'accord

02.01.02 Justification de la contribution de ma startup

Monapp contributes to the "No Poverty" Sustainable Development Goal by providing financial inclusion and empowerment through innovative payment solutions. By offering services like Buy Now Pay Later (BNPL), Escrow, Peer-to-Peer transfers, and Save to Buy plans, Monapp enables individuals with limited access to traditional banking to participate in the digital economy. This helps users manage their finances more effectively, reduce financial stress, and create opportunities for economic growth. Monapp's tools support small businesses, fostering entrepreneurship and sustainable livelihoods, thereby helping to alleviate poverty

02.02.01 Ma startup contribue à l'objectif 'Faim Zéro'

7 - tout à fait d'accord

02.02.02 Justification de la contribution de ma startup

By providing secure payment options, Buy Now Pay Later (BNPL) services, and group savings plans (Save to Buy), Monapp helps individuals and families afford food and essential goods, reduces economic vulnerability, and supports small businesses in the agricultural sector, ultimately contributing to food security and reducing hunger.

02.03.01 Ma startup contribue à l'objectif 'Bonne Santé et Bien Être'

6

02.03.02 Justification de la contribution de ma startup

Monapp's group savings plans (Save to Buy) can be used to collectively fund health-related expenses, promoting better health and well-being within communities.

02.04.01 Ma startup contribue à l'objectif 'Éducation de Qualité'

6

02.04.02 Justification de la contribution de ma startup

By offering flexible payment solutions such as Buy Now Pay Later (BNPL) and Escrow services, Monapp helps families better manage their finances, allowing them to allocate more resources toward educational expenses. Additionally, Monapp's group savings plans (Save to Buy) enable communities to pool resources for educational initiatives, facilitating access to learning materials and school fees. These financial tools empower users to invest in education, thereby enhancing educational opportunities and outcomes.

02.05.01 Ma startup contribue à l'objectif 'Égalité entre les Sexes'

4

02.05.02 Justification de la contribution de ma startup

02.06.01 Ma startup contribue à l'objectif 'Eau Propre et Assainissement'

4

02.06.02 Justification de la contribution de ma startup

02.07.01 Ma startup contribue à l'objectif 'Énergie Propre et Abordable'

7 - tout à fait d'accord

02.07.02 Justification de la contribution de ma startup

Through its flexible payment options like Buy Now Pay Later (BNPL) and group savings plans (Save to Buy), Monapp helps individuals and communities finance the purchase and installation of clean energy solutions, such as solar panels and energy-efficient appliances. This financial assistance makes renewable energy more accessible and affordable, encouraging the adoption of sustainable energy sources and reducing reliance on non-renewable energy.

02.08.01 Ma startup contribue à l'objectif 'Travail Décent et Croissance Économique'

7 - tout à fait d'accord

02.08.02 Justification de la contribution de ma startup

By becoming Monapp Brokers, individuals can create their own jobs, promoting entrepreneurship and self-employment. Brokers earn commissions by helping customers with financial transactions and resolving disputes, providing a steady income stream. This model not only creates job opportunities but also empowers brokers with skills and financial knowledge, fostering economic growth. By supporting small businesses and facilitating secure transactions, Monapp contributes to a more robust and inclusive economy.

02.09.01 Ma startup contribue à l'objectif 'Industrie, Innovation et Infrastructure'

4

02.09.02 Justification de la contribution de ma startup

02.10.01 Ma startup contribue à l'objectif 'Réduction des Inégalités'

7 - tout à fait d'accord

02.10.02 Justification de la contribution de ma startup

Monapp actively contributes to "Reduced Inequalities" by providing financial services tailored to underserved populations, including the unbanked and underbanked. Our platform offers flexible payment solutions like Buy Now Pay Later (BNPL) and Escrow services, which cater to individuals with low purchasing power and limited access to traditional banking. The Monapp Broker model further reduces economic disparities by creating job opportunities and promoting financial literacy among community members. By enhancing financial inclusion and accessibility, Monapp helps bridge the economic gap and supports equitable growth across diverse communities.

02.11.01 Ma startup contribue à l'objectif 'Villes et Communautés Durables'

4

02.11.02 Justification de la contribution de ma startup

02.12.01 Ma startup contribue à l'objectif 'Consommation et Production Responsables'

4

02.12.02 Justification de la contribution de ma startup

02.13.01 Ma startup contribue à l'objectif 'Lutte contre les Changements Climatiques'

4

02.13.02 Justification de la contribution de ma startup

02.14.01 Ma startup contribue à l'objectif 'Vie Sous-Marine'

4

02.14.02 Justification de la contribution de ma startup

02.15.01 Ma startup contribue à l'objectif 'Vie Terrestre'

4

02.15.02 Justification de la contribution de ma startup

02.16.01 Ma startup contribue à l'objectif 'Paix, Justice et Institutions Efficaces'

5

02.16.02 Justification de la contribution de ma startup

The platform’s Escrow services ensure that transactions are fair and protect both buyers and sellers, reducing the risk of fraud and disputes. Additionally, Monapp’s broker model empowers individuals with financial education and job opportunities, promoting economic stability and social justice. By enhancing trust and security in financial transactions, Monapp contributes to building stronger, more resilient institutions and communities.

02.17.01 Ma startup contribue à l'objectif 'Parteneriats pour la Réalisation des Objectifs'

6

02.17.02 Justification de la contribution de ma startup

Monapp's model for funding bills include a crowdfunding approach. we leverage shared resources and expertise to drive financial inclusion, promote sustainable economic growth, and support broader development initiatives.

06.01 Un grand nombre de clients utilisent déjà un produit/service très similaire au nôtre.

6

06.02 Notre produit/service représente un type de produit/service entièrement nouveau

3

06.03 Notre produit/service pourrait être décrit comme une nouvelle technologie

4

06.04 Notre produit/service est une amélioration d'un produit ou d'un service existant

7 - Tout à fait d'accord

06.05 Notre produit/service pourrait être décrit comme une extension d'une gamme de produits ou de services

5

06.06 Notre produit/service répond à une demande ou à un besoin qui n'a pas été satisfait par d'autres produits/services.

7 - Tout à fait d'accord

06.07 Notre produit/service est une nouvelle version d'un ancien produit/service

4

06.08 Justification

Our platform builds upon the traditional POS model, but with a digital twist. Like POS agents, our Brokers will assist customers with financial transactions, but instead of cash, they'll facilitate digital payments. Moreover, we're enhancing the traditional instant transaction model by introducing flexible payment options, giving customers more control and flexibility in managing their finances.

06.09 Analyse compétitive

Our main potential competitors are existing digital payment platforms and fintech companies, such as Moniepoint, Opay, and PalmPay. However, our unique approach to personalized support through Monapp Brokers and flexible payment options both online and offline sets us apart.

11.05 Menez-vous des actions au sein de votre communauté pour promouvoir le rôle des femmes entrepreneurs ?