Breaking barriers: how Moneco is unlocking financial access for francophone Africa

Nearly 400 million people in francophone Africa remain underserved by traditional banking systems, limited by national-only cards, costly or blocked international transfers, and exposure to local currency devaluation. Yet this region is young, digitally native, and rapidly growing, offering one of the world’s largest untapped markets for financial innovation.

Moneco is seizing this opportunity with a cross-border neobank that brings global financial services within reach. With just a passport or ID, users can access European IBANs, US accounts, or USDC wallets, alongside Visa cards and remittances across 150+ countries. Backed by Y Combinator, Stanford, Ajim Capital, and Digital Africa, the company is scaling fast to meet the needs of one of the world’s most dynamic populations.

We sat down with Bilal Dahlab, Co-Founder and CEO of Moneco, to learn more about the company’s mission, traction, and vision for building the financial rails of francophone Africa.

1. What inspired you to create Moneco, and how did your personal or professional journey lead you to focus on francophone Africa?

I was born and raised in Switzerland, but my father is from Algeria, so I’ve always had a personal connection with the region. Professionally, I started out in private banking in Switzerland, where I saw firsthand what true excellence in financial services looks like. Later, during my time in consulting with BCG in Africa, I came across the reality of the market and its challenges. What struck me most was how, in a globalized world, being disconnected from international finance puts people at a huge disadvantage. Local banks simply cannot offer the kind of services that allow people to participate fully in the global economy, and that’s where I realized there was an opportunity to build something meaningful.

2. What are the biggest challenges people in francophone Africa face with traditional banking, and how does Moneco address them differently?

Traditional banks in the region are not truly digital, nor are they inclusive. They typically only serve the very top of the market, and they don’t offer cross-border solutions. Moneco was built to be the opposite. Even though our services could be delivered at lower costs, what really matters is that we’re designed for inclusion and accessibility across borders.

3. With Moneco, users can open accounts and access services with just a passport or ID. Why was simplicity a key priority in your product design?

Access to the internet and smartphones is growing rapidly in Africa, and the population is very young: about 75% are under 35 years old. But people are still used to informal systems, and very few have a lot of documents to provide. That’s why making things simple was absolutely essential for us: users should be able to open an account with just a passport or ID. Of course, the challenge then becomes ensuring strong fraud controls, but simplicity had to come first to match the reality of the market.

4. You’ve already reached $430K annualized revenue in under 3 months and strong recurring usage. What do these numbers tell you about market demand?

We’ve reached over 2,500 active users in less than three months, and each user processes on average more than $1,200 per month. What’s interesting is that our pricing is higher than Wise or Revolut, yet customers are still willing to use us, because they simply don’t have alternatives. For us, this is a clear confirmation that the market we serve urgently needs what we’re building.

5. From Y Combinator to Stanford and Ajim Capital, you’ve brought in strong backers. How have these investors helped shape your journey so far?

The support we’ve received from our investors has been invaluable. At Y Combinator, we had the chance to work directly with partners like Dalton Caldwell and Tom Blomfield, who guided us through some key strategic decisions. Beyond that, the YC network has opened doors to founders, deals, and knowledge that have been essential for our growth. Having strong backers has also given us a lot of credibility when it comes to both recruiting and fundraising.

6. What’s on your horizon? What milestones do you expect to hit in the coming 12–18 months?

We’re aiming to reach profitability by early next year, driven by our growth and lean operations. Closing our Seed round is also a key milestone. Beyond funding, we’re preparing to launch new services and even a free version of our product to drive mass adoption.

7. What lessons have you learned so far about scaling in emerging markets that you’d share with other entrepreneurs?

One big lesson is that word of mouth is incredibly powerful in these markets, it gives us a much lower customer acquisition cost and almost immediate payback. The opportunities are massive because the markets are huge, and the needs are underserved. At the same time, scaling comes with challenges: the lack of formality makes controls more difficult, and there’s still a lot of market education needed.

8. From your perspective, why is now the best time for investors to join Moneco’s growth journey?

In the beginning, our early investors placed their bets on the team and the vision. Today, we’ve proven the demand with strong traction and real metrics. We’re raising our Seed round to stabilize our infrastructure and accelerate growth. At this stage, the risk is lower than before, but the entry price is still very attractive, making now the ideal time to join us.

Explore the opportunity.