Moniepoint UK Records $36,284 Revenue In First Month After Customer Migration
Moniepoint UK Limited, the United Kingdom subsidiary of Nigerian fintech company Moniepoint, recorded $36,284 in revenue during its first month of operations following the migration of customers from its diaspora remittance service, MonieWorld, in December 2025.
The figure, disclosed in the subsidiary’s accounts for the year ended December 2025, represents revenue from one month of activity and not its total earnings for the entire year.
Despite generating the revenue, the subsidiary posted a loss after tax of $226,172, while its gross profit stood at $10,220. Its total assets were valued at $769,703, with customer liabilities amounting to $112,453 at the end of the reporting period.
The financial disclosure comes amid Moniepoint’s decision to discontinue its diaspora-focused remittance service and redirect resources towards its core financial services business serving African enterprises.
Launched in April 2025, MonieWorld enabled Nigerians living in the UK to transfer money directly to bank accounts in Nigeria. The service operated in a competitive remittance market where providers compete on transaction fees, exchange rates, transfer speed and customer experience.
Although Moniepoint had previously reported a 70 per cent increase in monthly transaction volumes among UK diaspora users, it did not disclose the product’s absolute transaction value, total revenue or profitability. Consequently, the reported growth did not establish whether the service had achieved sustainable commercial returns.
Moniepoint’s UK expansion also involved the acquisition of Bancom Europe Limited in July 2025, which was subsequently renamed Moniepoint UK Limited. The acquisition gave the group access to an electronic money institution authorised by the United Kingdom’s Financial Conduct Authority.
The subsidiary’s accounts identified technology and communication as its largest disclosed administrative expense, at $125,838 in 2025. It also incurred $14,464 in bank and partner fees and $11,600 in foreign exchange transaction expenses.
These costs reflect some of the financial demands associated with operating cross-border payment services, including technology infrastructure, payment partnerships and currency conversion.
However, the limited period covered by the reported revenue means the figures alone do not establish that the operation was commercially unviable or that all the expenses were attributable solely to MonieWorld.
The development underscores the challenges fintech companies face when expanding into new markets, where they must attract sufficient transaction volumes, build customer confidence and meet regulatory requirements to sustain operations.
Moniepoint is now focusing on its core financial services for African businesses, with Nigeria remaining its principal market and Kenya forming part of its regional expansion strategy.
The $36,284 revenue figure relates specifically to Moniepoint UK Limited’s first month following the customer migration. It should not be interpreted as the Nigerian fintech group’s total revenue or as the total earnings generated by MonieWorld throughout 2025.
