Monisnap

The firm primarily serves diaspora members in Europe who wish to send money and other forms of support to relatives in over 150 countries. Its core business revolves around international money transfers, which can be sent as cash for pickup at over 100,000 local partner locations or directly to mobile money wallets. Beyond cash remittances, Monisnap's service portfolio includes international mobile airtime top-ups and reloads for prepaid cards such as PCS and Transcash. The company's revenue model is twofold. It generates income directly from consumer transactions via its website and mobile app, offering fees claimed to be significantly lower than traditional services. Secondly, it operates a B2B "remittance-as-a-service" platform, providing a turnkey, integrable solution for other companies, such as neobanks Nickel and Bnext, to offer money transfer services to their own customer bases.

Monisnap's key value proposition is a mobile-first approach that simplifies the transfer process, reduces costs, and increases speed, directly challenging incumbent players. The platform is designed to cater to the unbanked and underbanked populations in receiving countries, leveraging the high penetration of mobile phones in these regions. A significant milestone was the raising of a €10 million Series A round in July 2021, led by Serena Capital with participation from existing investors Truffle Capital, Evolem, and Notus Technologies, bringing its total funding to €12.5 million at the time. This capital was earmarked for global expansion, development of its B2B offering, and enhancement of its mobile money services, particularly targeting growth in West Africa and the Maghreb.