Moniepoint winds down MonieWorld, its UK remittance app

Moniepoint is discontinuing MonieWorld less than two years after launch, ending its first venture outside Africa and refocusing on Nigeria and Kenya. What changed MonieWorld, launched in April 2025 to serve the Nigerian diaspora in the UK, is being wound down. The service let users send money to Nigerian bank accounts and was aimed at the UK-Nigeria remittance corridor. Moniepoint said UK demand had held up, citing a 70% rise in monthly transaction volume among diaspora users, but chose to redirect the cross-border technical and operational infrastructure to its priority markets rather than keep funding the UK operation. Existing funds will continue to be processed during the transition and affected customers are to be contacted about timelines; no completion date has been given. Most staff are expected to be redeployed.