Rank
Rank is a Nigerian fintech operating a community-powered mobile financial services platform offering savings, payments, microloans, and wealth management to underserved African consumers, mobile money agents, SMEs, and high-net-worth individuals via a CBN-licensed microfinance bank and community-based trust circles.
- Company typePrivate
- Founded2021
- HeadquartersLagos, Nigeria
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Rank does
Rank is a Nigerian fintech operating a community-powered mobile financial services platform that combines savings, payments, lending, and wealth management under a single app. Founded in 2021 by Femi Iromini (CEO, ex-Goldman Sachs and World Bank consultant) and Dapo Sobayo (CTO, ex-Head of Risk at Zedvance) as Moni, the company originated as a microloan provider to mobile money agents using community-based trust scoring. Following the November 2025 rebrand to Rank and dual acquisitions of AjoMoney (community savings) and Zazzau Microfinance Bank (CBN-licensed banking infrastructure, now Rank Microfinance Bank), the platform expanded into a full-stack financial ecosystem serving underserved Nigerian and West African consumers, mobile money agents, SMEs, and high-net-worth individuals through products including Rank Reserve, Flex, Goals, Premium, Spend, Pay, Tribe (community circles), and Grow (SME financing), with Rank Capital operating as the proprietary wealth management subsidiary.
The business model blends multiple revenue streams: interest-rate spreads on savings products offering up to 23% per annum (30% for the Premium tier), transaction fees on microloans and payment/bill services, and subscription-style recurring revenue from Premium wealth advisory. Distribution is product-led and community-led via the mobile app on Google Play and Apple App Store, with viral word-of-mouth through community circles driving customer acquisition at low cost. Regulatory positioning is anchored by CBN licensing and NDIC deposit insurance, providing institutional-grade trust in a market where most fintechs operate without banking licenses.
The company has raised approximately $1.1M in disclosed funding (a $400K pre-seed in November 2021 and a $700K round in January 2022 led by Y Combinator) plus an undisclosed Visa Accelerator round in February 2024, with backing from a Tier-1 investor syndicate including Y Combinator, Ventures Platform, Good Water Capital, Magic Fund, and Voltron Capital. Rank Capital was named the 7th fastest-growing fintech in Africa by the Financial Times in 2026. The company has 11-50 employees, serves 103K+ members, and has disbursed over $5M across 10,000 loans with a reported 0.1% default rate since inception.
Rank firmographics
Firmographics- Name
- Rank
- Legal name
- Rank Microfinance Bank Limited
- Website
- https://www.userank.com/
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Rank is a Nigerian fintech operating a community-powered mobile financial services platform offering savings, payments, microloans, and wealth management to underserved African consumers, mobile money agents, SMEs, and high-net-worth individuals via a CBN-licensed microfinance bank and community-based trust circles.
- Ownership category
- akta.pro rank
Rank industry classification
Industry- Product category
- Digital Community Banking / Microfinance
- NAICS
- Portfolio Management and Investment Advice (523940), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- Investment Advice (6282), Personal Credit Institutions (6141)
- akta.pro primary industry
- Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value) (FSAGAAAD)
- akta.pro secondary industries
- Digital Wealth Platforms for Advisors (TAMP/Advisor Tech) (FSAGAEAH), Goal-Based & Micro-Investing Platforms (Round-ups, Fractional) (FSAGAEAG), Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)
Keywords
Where Rank is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices3 records
Markets served
Rank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Savings Interest Spread: Rank earns revenue from the spread between interest paid to savers and interest earned on loans and investments. Savings products offer up to 23% per annum.
- Premium Subscription Services: Rank Premium offers dedicated wealth management advisors and up to 30% interest per annum for high-net-worth individuals.
- Microloans: Community-based microloans to mobile money agents and SMEs, originally with 0.1% default rate.
- Payment and Bill Services: Fees from bill payments, money transfers, and payment processing through the app.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Reserve savings - locked funds with guaranteed returns |
| Freemium | Monthly | Flex savings - flexible access with interest |
| Subscription | Annual | Premium - dedicated advisor with highest rates |
| Subscription | Annual | Goals savings - target-based savings |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Rank product offering
Product offeringCore offering
Rank (formerly Moni) operates a CBN-licensed microfinance bank that delivers a community-powered mobile money app offering high-yield savings (Reserve, Flex, Goals, Premium), community-circle based lending through Tribe, microloans to mobile money agents and SMEs, instant payments (Spend), bill payments (Pay), and wealth management via its Rank Capital subsidiary. The platform combines bank-grade security with social-trust underwriting to serve financially underserved African communities, mobile money agents, SMEs, and high-net-worth individuals.
Product overview
Rank is a community-powered financial services platform offering a suite of savings products (Reserve, Flex, Goals, Premium), spending and payment features (Spend, Pay), and group savings circles (Tribe). The platform expanded from its Moni origins through acquisitions of AjoMoney and Zazzau Microfinance Bank, now operating as Rank Microfinance Bank. Rank Capital serves as the proprietary investment subsidiary, while Moneypedia provides financial education content. The ecosystem spans from inclusive mass-market banking to sophisticated wealth management with premium advisory services.
Differentiator
Problem solved
Functional benefit
Products and services
- Rank App Mobile-first money app (iOS/Android) providing community-powered savings, lending, payments, and bill payment for underserved African individuals and communities.
- Rank Reserve Locked savings plan with guaranteed tiered returns of 18%-23% per annum based on tenor (90-365+ days); funds inaccessible until maturity, designed for disciplined savers.
- Rank Flex Flexible savings account allowing deposits and withdrawals anytime while still earning interest; freemium pricing model.
- Rank Goals Target-based savings plan enabling users to save toward specific financial goals with competitive interest rates and structured progress tracking.
- Rank Premium Premium wealth management subscription offering up to 30% interest per annum, dedicated personal wealth advisor, personalized investment strategy, priority support, and exclusive events for high-net-worth individuals.
- Rank Spend Instant peer-to-peer money transfer feature enabling users to send funds to anyone, anytime with fast, secure transfers within the Rank ecosystem.
- Rank Pay (Bill Payments)
Quantifiable outcome
- 0.1% default rate on microloans
- +2 more outcomes
Companies that use Rank
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Rank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature3 records
Rank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- AjoMoneycoreAjoMoney was acquired by Rank as part of its expansion from peer-to-peer lending to a community-powered financial ecosystem. The acquisition brings regulatory expertise and product capabilities.
- Zazzau Microfinance BankcoreZazzau Microfinance Bank was acquired and renamed Rank Microfinance Bank. This acquisition provides Rank with a CBN-licensed microfinance banking entity, enabling expanded financial services offerings.
Scale indicators10 records
Recent moves7 records
Expansion highlights7 records
Rank competitors and assessment
Company assessmentDirect peers
- CowryWise: Nigerian fintech offering automated savings, investments, and financial planning. Closely comparable to Rank's savings-led model with mutual fund and wealth management features, serving similar retail customers seeking disciplined savings.
- PalmPay: Nigeria and Africa-focused mobile money platform offering payments, transfers, airtime, and savings. Comparable as a mobile-first financial super-app targeting similar underserved and informal-sector consumers in Nigeria.
- Piggyvest: Nigeria's leading digital savings and investment platform offering goal-based savings, fixed deposits, and investment products. Directly comparable to Rank's Reserve, Flex, Goals, and Premium savings suite with overlapping mass-market consumer base.
- FairMoney: Nigeria-focused digital lender and neobank offering microloans, savings, and payments to underserved consumers and SMEs. Highly comparable to Rank's lending-to-mobile-money-agents origins and current multi-product consumer banking approach.
- Carbon (formerly Paylater): Nigerian digital lending and banking platform providing personal loans, savings, and payments. Direct competitor in the consumer microcredit and savings space with similar focus on underserved Nigerian customers.
- OPay: Africa-focused super-app offering payments, transfers, savings, and lending across Nigeria and other African markets. Direct competitor in mobile money, payments, and consumer credit with comparable community-based user acquisition.
- Moniepoint: Major Nigerian fintech providing banking and payment services for SMEs and mobile money agents, including working capital loans. Overlaps directly with Rank Grow and Rank's lending to mobile money agents; shares investor Dotun Olowoporoku from Ventures Platform.
- Kuda Bank: Nigerian digital-only neobank offering free banking, savings, and transfers. Comparable as a mobile-first Nigerian banking alternative with similar target demographic of digitally-native consumers seeking alternatives to traditional banks.
Regional players
- TymeBank: South African digital retail bank offering savings, credit, and transactional accounts via app and kiosk. Comparable as a regional emerging-market digital bank, though operating in a different African geography with more developed banking infrastructure.
Emerging players
- AjoMoney (pre-acquisition positioning): Pre-acquisition, AjoMoney operated community-based group savings circles for Africans and diaspora users — the exact model now integrated into Rank Tribe. Useful as a benchmark for the embedded community-savings approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Rank social profiles
Digital presenceRank compliance and trust
Trust signalCompliance3 records
Rank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rank leadership team
Management profileNumber of profiles
Profiles4 records
Rank subsidiaries and ownership
Company hierarchySubsidiaries3 records
Rank funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rank M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rank
What does Rank do?
Rank (formerly Moni) operates a CBN-licensed microfinance bank that delivers a community-powered mobile money app offering high-yield savings (Reserve, Flex, Goals, Premium), community-circle based lending through Tribe, microloans to mobile money agents and SMEs, instant payments (Spend), bill payments (Pay), and wealth management via its Rank Capital subsidiary. The platform combines bank-grade security with social-trust underwriting to serve financially underserved African communities, mobile money agents, SMEs, and high-net-worth individuals.
Is Rank a public or private company?
Rank is a private company. It is classified as venture growth investor backed and is currently operating.
When was Rank founded?
Rank was founded in 2021. It employs 51 to 100 people.
Where is Rank based?
Rank is headquartered in Lagos, Nigeria, in the Africa region.
How does Rank make money?
Four revenue lines are on record. Savings Interest Spread is the primary driver. The others are premium Subscription Services, microloans and payment and Bill Services.
Who are Rank's main competitors?
Direct peers on record are CowryWise, PalmPay, Piggyvest, FairMoney, Carbon (formerly Paylater), OPay, Moniepoint and Kuda Bank. TymeBank is listed as a regional player. AjoMoney (pre-acquisition positioning) is listed as an emerging player.
Does Rank have an API?
No public API is recorded for Rank.
What industry is Rank in?
Rank's product category is Digital Community Banking / Microfinance. Its primary akta.pro industry code is FSAGAAAD, Digital Wallets & Account Aggregation Hub (Multi-account, Stored Value), with a secondary code of FSAGAEAH, Digital Wealth Platforms for Advisors (TAMP/Advisor Tech). Its NAICS code is 523940 and its SIC code is 6282.