Dapo Sobayo

Co-founder/Engineering @ Moni arrow icon

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About Dapo Sobayo

Dapo Sobayo is a co-founder and engineering leader at Moni, a company that finances small businesses across Africa and is backed by prominent investors including Y Combinator.

Known information

Dapo Sobayo serves as a co-founder and head of engineering at Moni, a fintech startup based in Lagos, Nigeria that provides financing to small businesses in groups, using the collective responsibility of the group as collateral. Sobayo played a pivotal role in developing the technology for one of the largest digital lending apps prior to his current venture. Under his leadership, Moni was part of the Y Combinator W22 batch and has attracted significant investment from entities such as Magic Fund, Ventures Platform, and Voltron Capital. The company boasts a strong repayment record, achieving a 99% repayment rate on 11,000 units of loans, disbursing over $5 million within just 7 months of its launch. Additionally, Moni has demonstrated rapid growth, achieving a monthly recurring revenue of $72,000, which is growing at a rate of 50% month-over-month. The team at Moni consists of 20 members, all dedicated to the mission of empowering small businesses in Africa.

About Moni

Moni is a fintech company based in Lagos and LA, Nigeria, specializing in credit and lending for the African market. It offers non-collateral loans, group financing, and a Rent Now Pay Later service, backed by notable investors including Y Combinator.

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