SmartMoney
SmartMoney International is an open banking platform offering mobile-based digital savings, investment, payment, credit, and insurance products to underserved African populations via feature phones, distributed through community-based Savings Clubs. It serves approximately 300,000 people and 5,000 businesses across Africa.
- Company typePrivate
- Founded2012
- HeadquartersNew City, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What SmartMoney does
SmartMoney International operates an open banking platform that delivers mobile-based digital savings, investment, payment, credit, and insurance products to underserved populations across Africa. The proprietary platform is engineered to function on basic feature phones without requiring smartphones or internet connectivity, directly addressing the device and connectivity constraints that exclude large segments of the African market from conventional digital financial services. Distribution is hybrid: a self-serve mobile channel is combined with a physical network of SmartMoney Savings Clubs embedded in local schools, churches, saccos, farmer groups, and markets, supported by a free in-person save-to-invest skills development program that trains users on financial literacy and wealth building. To date, the platform reports $5M in customer savings and investments, $300M in payments processed, and a user base of approximately 300,000 people alongside 5,000 shops, schools, and churches.
The company targets multiple horizontal segments — low-income individuals (including those earning under $5 per day), small businesses, schools, churches, saccos, and farmer groups — and explicitly positions itself as a Pan-African backbone for digital financial services spanning remote villages to urban centers. The consumer-facing pricing model is free: there are no charges for deposits, withdrawals, or payments, and the skills development program is also free. The company-level revenue model, monetization mechanics, ownership structure, funding history, leadership team, and partnership network are not disclosed in available sources. SmartMoney is privately held, headquartered in the United States per firmographic data, and operates with 51-100 employees; the platform was founded in 2012 and the website remains active.
SmartMoney firmographics
Firmographics- Name
- SmartMoney
- Legal name
- SmartMoney International
- Website
- https://smartmoneyinternational.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- SmartMoney International is an open banking platform offering mobile-based digital savings, investment, payment, credit, and insurance products to underserved African populations via feature phones, distributed through community-based Savings Clubs. It serves approximately 300,000 people and 5,000 businesses across Africa.
- Ownership category
- akta.pro rank
SmartMoney industry classification
Industry- Product category
- Mobile Banking and Digital Financial Services
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199), Personal Credit Institutions (6141)
- akta.pro primary industry
- High-Net-Worth & Private Wealth Digital Platforms (Digital Private Banking) (FSAGAEAI)
- akta.pro secondary industries
- Smart Contract Wallets & Account Abstraction (FSADACAF), Retail Cash Deposit & Smart Safe / Cash Recycling Solutions (FSAMAOAG)
Keywords
Where SmartMoney is headquartered
LocationHeadquarters
- HQ city
- New City
- HQ country
- United States
- HQ region
- North America
Markets served
SmartMoney business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Financial Services Platform: Open banking platform offering savings, investment, payments, credit and insurance products. Revenue model not explicitly disclosed in available sources.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free platform access |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
SmartMoney product offering
Product offeringCore offering
SmartMoney provides a mobile-based open banking platform offering digital savings, investment, payment, credit, and insurance products accessible via basic feature phones without requiring smartphones or internet connectivity. The offering is supported by a free in-person Save-to-Invest Skills Development Program and a network of community-based SmartMoney Savings Clubs located in villages, schools, churches, saccos, farmer groups, and markets across Africa. The integrated platform enables unbanked and low-income individuals and small organizations to save, invest, transact, borrow, and insure using their own funds.
Product overview
SmartMoney is an open banking platform offering a fully integrated suite of mobile-based digital financial products including savings, investment, payment, credit, and insurance. The platform is powered by a proprietary open banking technology that operates through a customer-first model, supported by a free save-to-invest skills development program and SmartMoney Savings Clubs in local communities. Users access services through feature phones without requiring costly smartphones or internet connectivity. The platform has facilitated over $5M saved and invested, 300 million payments processed, and serves approximately 300,000 people and 5,000 shops, schools, and churches across Africa.
Differentiator
Problem solved
Functional benefit
Products and services
- SmartMoney Savings Mobile-based digital savings product that enables users—particularly low-income individuals and small organizations across Africa—to deposit funds and earn returns, supported by local SmartMoney Savings Clubs.
- SmartMoney Investment Mobile-based digital investment product that allows users to invest their savings into new income-generating activities, supported by the Save-to-Invest Skills Development Program that builds investor capability.
- SmartMoney Payments Mobile-based digital payment product that enables users to make transactions through the SmartMoney platform, with no charges for deposits, withdrawals, or payments.
- SmartMoney Credit Mobile-based digital credit product providing borrowing and credit access for unserved African customers who otherwise rely on friends, family, or high-interest informal lenders.
- SmartMoney Insurance Mobile-based digital insurance product that provides coverage as part of SmartMoney's integrated financial services platform, accessible to underserved African customers via feature phones.
Quantifiable outcome
- People making less than $5 a day are saving 15% of their annual income
- +2 more outcomes
Companies that use SmartMoney
Customer profileSegments4 records
Ideal customer profiles2 records
SmartMoney technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
SmartMoney partnerships and signals
Strategic signalScale indicators5 records
Recent moves5 records
Expansion highlights5 records
SmartMoney competitors and assessment
Company assessmentBroad incumbents
- M-Pesa: Safaricom-operated mobile money platform that pioneered African mobile financial services with a vast agent network. Directly comparable to SmartMoney on feature-phone payments, savings and credit in African markets, but at vastly greater scale.
- MTN Mobile Money: Pan-African mobile money service from MTN Group spanning multiple African countries. Highly comparable to SmartMoney on cross-border mobile money, payments and financial inclusion across underserved segments.
- Airtel Money: Pan-African mobile money offering from Airtel Africa. Comparable target market (underserved African consumers on basic phones) and product scope (payments, savings, credit).
- Orange Money: Orange's mobile money service operating across Francophone and other African markets. Comparable to SmartMoney's mobile-based digital wallet, savings and payments products and Pan-African footprint.
Direct peers
- Wave (Waves): Mobile money challenger serving West African markets with low-cost mobile payments and transfers. Compares to SmartMoney on mobile-first financial inclusion targeting the same low-income African customer base.
- Chipper Cash: Pan-African digital payments fintech serving individuals and businesses across Africa. Comparable to SmartMoney on cross-border mobile payments, wallets and financial services targeted at African users.
- OPay: Mobile payment and digital financial services platform focused on emerging markets, particularly Nigeria and other African countries. Comparable to SmartMoney on payments, savings and credit products delivered via mobile to underserved users.
- Piggyvest: Nigerian digital savings, investment and wealth management platform. Directly comparable to SmartMoney's savings, investment and wealth-building products targeting African users on mobile.
- Carbon (formerly Paylater): Nigerian digital finance platform offering credit, savings and payments via mobile. Comparable to SmartMoney on digital credit and savings targeting unbanked and underbanked African consumers.
- Branch International: Mobile lending and payments platform serving emerging markets including Africa via feature phones. Comparable to SmartMoney on digital credit and payments distribution to low-income African users.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
SmartMoney social profiles
Digital presenceSmartMoney financial estimates
Financial estimateRevenue estimate
Valuation estimate
SmartMoney leadership team
Management profileNumber of profiles
SmartMoney funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SmartMoney M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SmartMoney
What does SmartMoney do?
SmartMoney provides a mobile-based open banking platform offering digital savings, investment, payment, credit, and insurance products accessible via basic feature phones without requiring smartphones or internet connectivity. The offering is supported by a free in-person Save-to-Invest Skills Development Program and a network of community-based SmartMoney Savings Clubs located in villages, schools, churches, saccos, farmer groups, and markets across Africa. The integrated platform enables unbanked and low-income individuals and small organizations to save, invest, transact, borrow, and insure using their own funds.
Is SmartMoney a public or private company?
SmartMoney is a private company. It is classified as unknown and is currently operating.
When was SmartMoney founded?
SmartMoney was founded in 2012. It employs 51 to 100 people.
Where is SmartMoney based?
SmartMoney is headquartered in New City, United States, in the North America region.
How does SmartMoney make money?
One revenue line is on record: financial Services Platform.
Who are SmartMoney's main competitors?
Broad incumbents on record are M-Pesa, MTN Mobile Money, Airtel Money and Orange Money. Direct peers are Wave (Waves), Chipper Cash, OPay, Piggyvest, Carbon (formerly Paylater) and Branch International.
Does SmartMoney have an API?
No public API is recorded for SmartMoney.
What industry is SmartMoney in?
SmartMoney's product category is Mobile Banking and Digital Financial Services. Its primary akta.pro industry code is FSAGAEAI, High-Net-Worth & Private Wealth Digital Platforms (Digital Private Banking), with a secondary code of FSADACAF, Smart Contract Wallets & Account Abstraction. Its NAICS code is 5221 and its SIC code is 6199.