Mobile Money

What Mobile Money does

Mobile Money is a private, for-profit narrowbank digital bank headquartered in New York, United States, founded in 2010 and operating at a 51-100 employee scale. The company offers a digital financial services platform accessible via mobile devices, covering payments, transfers, exchange (FX/currency), and savings — a focused suite positioning it within the broader mobile money category that has scaled to 593 million active accounts globally and $2.1 trillion in annual transaction volume.

The core technology is a mobile money platform enabling digital financial services, including payments, person-to-person transfers, savings accumulation, and insurance products accessible without requiring a traditional bank account. The company's website (m-banco.com) serves as its primary customer interface, and the product model targets unbanked and underbanked populations, addressing financial inclusion pain points. The narrowbank structure — a more limited banking license than a full bank charter — allows the firm to offer transaction and savings services with a lower regulatory burden than a chartered bank.

The revenue model and pricing are not publicly disclosed; based on standard narrowbank models, revenue would derive from transaction fees, interchange, FX margins on currency exchange, and potentially yield on customer deposits. The company has raised $5,000,000 in a single disclosed funding round (2015-08-07) and is led by CEO Randolph Kantorowicz-Toro. No follow-on financing, partnerships, named customers, or specific go-to-market channels are disclosed in the source materials.

Name

Mobile Money

Website

https://m-banco.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

Mobile Money is a private narrowbank digital bank headquartered in New York, founded in 2010, offering mobile-based payments, transfers, currency exchange, and savings services to unbanked and underbanked individuals.

Ownership category

akta.pro rank

Product category

Mobile Banking

NAICS

Depository Credit Intermediation (5221)

SIC

Finance Services (6199)

akta.pro primary industry

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF)

akta.pro secondary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

Keywords

• Digital banking services
• Mobile payments
• Money transfers
• Digital savings accounts
• Narrowbank services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Core offering

Mobile Money is a narrowbank digital bank that delivers mobile-based financial services to consumers. Its core offerings include payments, transfers, foreign exchange, and savings accounts, accessible via mobile devices to extend financial services to unbanked and underbanked populations without requiring a traditional bank account.

Differentiator

Problem solved

Functional benefit

Products and services

• Mobile Payments A digital payment service enabling users to send and receive money via mobile devices, including person-to-person transfers and merchant transactions, designed for unbanked and underbanked consumers.
• Money Transfers A mobile-based transfer service allowing users to move funds between individuals or accounts without requiring a traditional bank account.
• Foreign Exchange A digital currency exchange service offered through the mobile platform, enabling users to convert between currencies without visiting a traditional bank branch.
• Digital Savings A mobile savings account offering that allows users to accumulate savings digitally, expanding the mobile money offering beyond basic payments into deposit-style financial services.

Quantifiable outcome

• Mobile money transactions reached $2.1 trillion globally in 2025, doubling in four years
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves2 records

Expansion highlights3 records

Broad incumbents

• Revolut: Revolut is a global digital bank/neobank offering payments, transfers, FX, and savings — directly comparable to Mobile Money's core narrowbank feature set, but at vastly larger scale and broader product portfolio.
• Cash App: Cash App (Block) provides P2P payments, savings, and a mobile money experience in the US — overlapping with Mobile Money's payment and savings offerings, though much broader in scale and features.
• Venmo: Venmo (PayPal) is a US-leading mobile P2P payment app with a debit card and savings features, overlapping with Mobile Money's mobile payments and savings products in the US market.
• N26: N26 is a European-licensed neobank offering payments, transfers, savings, and FX — broadly comparable to Mobile Money's narrowbank architecture but with a larger geographic footprint and broader product set.
• Chime: Chime is a US neobank focused on fee-free banking, mobile payments, and savings accounts — comparable to Mobile Money's US digital-banking and savings positioning, though much larger in customer base.
• Western Union: Western Union is the incumbent global money transfer operator, directly competing with Mobile Money's cross-border transfer and exchange services via its digital and agent network channels.
• MoneyGram: MoneyGram provides global P2P money transfers and bill payment services through digital and retail channels, comparable to Mobile Money's cross-border transfer capability and core money-movement business.

Direct peers

• Wise (TransferWise): Wise specializes in cross-border money transfers and FX with a multi-currency account — the same transfer-and-exchange core that Mobile Money offers, making it the closest direct peer for the company's primary revenue vectors.
• Remitly: Remitly is a digital remittance company focused on cross-border person-to-person transfers, particularly US-to-emerging-market corridors — comparable to Mobile Money's payments, transfers, and exchange capabilities for diaspora segments.
• Payoneer: Payoneer provides cross-border payments, FX, and multi-currency accounts for individuals and businesses — comparable to Mobile Money's transfer and exchange feature set, particularly for international freelancer and SMB corridors.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mobile Money