FairMoney
The digital bank for emerging markets
What it does
FairMoney was founded in 2017 by Laurin Hainy, Nicolas Berthozat, and Matthieu Gendreau to build a credit-led neo-bank for emerging markets. Operating under a Microfinance Bank license in Nigeria, the platform provides algorithmic micro-loans, target savings accounts, cards, and bill payments. It stands out as one of Sub-Saharan Africa's largest digital credit providers.
Consumer / retail lendingDigital / challenger banks (neobanks)Digital savings platformsBill payments & aggregatorsCard issuing & management
Known for
- Credit-led digital banking super-app
- Algorithmic instant consumer loans
- Licensed FairMoney MFB platform
- High-volume digital retail lending
Model & industry
SaaSEmbedded FinanceAll / Cross-industry
Funding history
$54.4M
Total raised
3
Rounds
Series B
Latest stage
2021
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2021-07 | Series B | $42.0M | Tiger Global Management |
| 2019-09 | Series A | $11.0M | Flourish Ventures |
| 2018-01 | Seed | $1.4M | — |
Source: Condia Funding Tracker
Products & subsidiaries
FairMoney Bank App · Credit-Led Neobank AppFairSave & FairLock · Fixed Savings ProductFairMoney Pay POS · POS Merchant Solution
Acquisitions
- PayLater (Ghana) (2023). Acquired credit asset portfolio for regional expansion.
- Umba (2024). Strategic digital bank acquisition attempt across West Africa.