Moniepoint UK Limited, the UK subsidiary of fintech unicorn Moniepoint Inc., made $36,284 in revenue in 2025, according to annual reports filed with UK regulators.
The company said the figure represents one month of activity after migrating customers of its diaspora remittance product, MonieWorld, to the entity in December.
“Customers were migrated into what was formerly Bancom starting in December 2025…so just one month of activity,” A company spokesperson told TechCabal on Thursday.
The figures show how MonieWorld was a small part of Moniepoint’s wider business as it moved to establish a regulated presence in the UK. Its phased exit from the UK remittance market comes as competition for diaspora transfers intensifies, with providers such as LemFi and Sendwave competing on fees, exchange rates, and transfer speed.
For the year ended December 2025, Moniepoint UK Limited reported $10,220 in gross profit. The company recorded a loss after tax of $226,172. The company had total assets of $769,703 and customer liabilities of $112,453 at the end of 2025.
Its cost of sales largely consisted of bank and partner fees of $14,464 and foreign-exchange transaction expenses of $11,600. Technology and communication was its largest disclosed administrative expense, costing $125,838.
Moniepoint’s MonieWorld bet
MonieWorld launched in April 2025 to compete in the £2.76 billion ($3.69 billion) UK-Nigeria remittance market. Less than 18 months later, Moniepoint announced it was discontinuing the diaspora-focused business after what it described as a review of the group’s portfolio and long-term priorities.
At the time, the company said MonieWorld had recorded 70% monthly growth in transaction volumes.
Moniepoint’s UK operation was built through the acquisition of an existing regulated financial institution, Bancom Europe Limited, in July 2025. The company was renamed Moniepoint UK Limited in September, and MonieWorld customers were migrated to it in December.
Before the migration, MonieWorld operated under Moniepoint GB Limited. Because the company did not hold an electronic money institution licence, it contracted PayrNet Limited, part of Railsr, a UK-based electronic money institution (EMI) authorised and regulated by the Financial Conduct Authority (FCA), to facilitate the UK leg of its remittance business.
The acquisition of Bancom Europe gave Moniepoint an EMI authorised by the UK’s FCA. The fintech deposited $2.51 million as equity for its Bancom acquisition.
The company earns fees and commission income from financial services provided to customers. Its reported revenue came from foreign-exchange transaction fees.
When Moniepoint announced it was discontinuing MonieWorld, it said the decision would let it focus on its platform for African businesses. However, the product remains operational.
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