Rank launches money app after Moni rebrand and acquisitions

November 11, 2025

Rank, formerly known as Moni, a Y Combinator-backed FinTech that leverages community and social trust to provide financial services for Africans, has announced a major rebrand and expansion.

The company has rebranded as Rank and simultaneously acquired AjoMoney and Zazzau Microfinance Bank (MFB).

The rebrand and acquisitions aim to support Rank’s mission of building a broader financial platform that empowers communities to save, invest and grow together. The move positions Rank to combine traditional African savings models with modern digital finance infrastructure, enabling wealth creation through community-driven systems.

Rank operates as a money app for communities, allowing individuals and businesses to spend, save, invest and manage money seamlessly. The company’s vision builds upon its original model of community-powered lending, expanding to include a full suite of financial products that make prosperity a shared journey rather than a solo effort.

The new product, an enhanced high-yield group savings solution, was launched as part of Rank’s expansion. It enables communities to pool savings backed by treasury bills and money market instruments, generating returns of up to 23%. During a pilot phase, the product reached 10,000 participants and achieved ₦16bn ($11.25m) in total payouts, demonstrating strong demand for scalable, community-based financial products.

Through the integration of AjoMoney and Rank Microfinance Bank, the company gains both operational depth and regulatory strength. AjoMoney brings its expertise in digital group savings, while Rank Microfinance Bank provides a regulated platform to offer deposit, lending and other financial services across key Nigerian markets.

Femi Iromini, CEO of Rank, said, “Rebranding from Moni to Rank marks a new chapter in our mission to make prosperity common. Rank is about rising together – building a financial system powered by community, trust, and shared progress. The acquisitions of AjoMoney and Zazzau Microfinance Bank are pivotal steps in this journey.

“AjoMoney strengthens our roots in Africa’s powerful tradition of community savings, while Zazzau Microfinance Bank gives us the regulatory foundation to accept deposits, connect to NIBSS, and offer a full suite of financial services. Together, these milestones accelerate our vision of a money app that empowers individuals and communities to save, spend, and grow – not alone, but together.”

AjoMoney CEO Ibrahim Adepoju said, “AjoMoney was built to make access to finance simple, fair and powered by community. We modernized one of Africa’s oldest financial traditions – rotating savings and credit associations – and brought it into the digital era. Passing this vision to the Rank team is a natural next step. With their deep experience in digital banking and community finance, Rank is well-positioned to scale this mission to millions across Africa, making financial services affordable without burden or barriers.”