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Mono, Nigerian Fintech Startup Secures $15m Series A

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Mono, Nigeria’s tech-driven fintech startup, has closed a $15,000,000 Series A funding round led by Tiger Global.

Target Global, General Catalyst and SBI Investment are new investors who joined in backing Mono in the round. Existing investors include Entree Capital, Lateral Capital, GPIC, Acuity VC, and Ingressive Capital.

Mono leverages technology to power the digital economy in Africa, using open banking as a layer for financial data, identity data, and bank transfer payments for businesses. The company connects bank accounts to financial applications.

The company’s CEO, Abdul Hassan and CTO, Prakhar Singh founded the company last year to make access to financial accounts across Africa, secure and reliable.

Mono’s DirectPay product makes payments transactions seamless for Nigerian businesses. Entrepreneurs can transfer money to customers with the company’s web or mobile app without using debit cards.

With offices in Nigeria, Kenya and Ghana, Mono affirms to have 1,200 developers and businesses leveraging its services to build their products, processed and delivered to its partners over 200,000,000 transaction data

The company is building user-focused and innovative products that will continue to go beyond limits in accessing data and payments in Open Banking, across Africa.

Backed by leading investors including YCombinator, Entree Capital, Ingressive Capital, Magic Fund and Lateral Capital, the company has raised $2,650,000 in total funding prior to the current round.

In the last two months, the company asserts to have connected over 150,000 bank accounts, with a growth of 45x year-on-year and an increased staff base.

Last September, the company completed a $500,000 pre-seed investment and participated in Y Combinator’s most recent winter batch, raising $2,000,000 in seed funding after graduation.

Building the best open banking platform in Africa, the company plans to complete its move to South Africa via a partnership with Absa bank this year.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

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Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has dismissed reports that bank accounts not linked to a Tax Identification Number (TIN) will be frozen or automatically debited from January 1, 2026.

Oyedele Dismisses Claims Bank Accounts Without TIN Will Be Frozen

Taiwo Oyedele

Oyedele described the claims as false and misleading, warning Nigerians against panic over misinformation surrounding recent tax and financial reforms.

In a post on his X handle Tuesday morning, he wrote: “Don’t let anyone manipulate you. Your bank account is safe. Misinformation makes you panic and fear a reform that is designed to help you.

“When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise.”

He stressed that no provision in the new tax laws authorises the freezing of bank accounts, adding that the rumours are part of widespread misrepresentation of the reforms.

The committee chairman reiterated that the reforms are intended to simplify Nigeria’s tax system and ease the burden on ordinary citizens, not to impose punitive measures on bank customers.


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Amazon Blocks 1,800 North Koreans From Job Applications

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US tech giant, Amazon has disclosed that it blocked more than 1,800 North Koreans from applying for jobs, amid growing concerns that Pyongyang is deploying large numbers of IT workers overseas to earn and launder funds.

Amazon Blocks 1,800 North Koreans From Job Applications

Amazon

In a LinkedIn post, Amazon’s Chief Security Officer, Stephen Schmidt, said North Korean nationals have been attempting to secure remote IT roles with companies around the world, particularly in the United States.

He noted that the company recorded nearly a one-third increase in such applications over the past year.

According to Schmidt, many of the applicants operate through so-called “laptop farms” — computers physically located in the US but remotely controlled from abroad.

He warned that the issue is not unique to Amazon and is likely occurring at scale across the tech industry.

He added that common red flags include incorrectly formatted phone numbers and questionable academic credentials.

The issue has previously drawn the attention of US authorities. In July, a woman in Arizona was sentenced to more than eight years in prison for running a laptop farm that helped North Korean IT workers obtain remote jobs at more than 300 US companies.

Officials said the scheme generated over $17 million in revenue for both the woman and North Korea.

Last year, South Korea’s intelligence agency also warned that North Korean operatives were using LinkedIn to pose as recruiters, approaching South Koreans working at defence companies in an attempt to steal sensitive technological information.

“North Korea is actively training cyber personnel and infiltrating key locations worldwide,” Hong Min, an analyst at the Korea Institute for National Unification, told AFP.

He added that, given Amazon’s business model, the motivation behind such operations is largely economic, with a high likelihood of attempts to steal financial assets.

North Korea’s cyber warfare programme dates back to at least the mid-1990s and has since expanded into a cyber unit of about 6,000 personnel known as Bureau 121, according to a 2020 US military report.

In November, Washington announced sanctions against eight individuals accused of being state-sponsored hackers, alleging their illicit activities were carried out to fund North Korea’s nuclear weapons programme.

The US Treasury has also accused North Korea-linked cybercriminals of stealing more than $3 billion over the past three years, primarily through cryptocurrency-related crimes.


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Treepz Launches Direct Flight Bookings to UK, Canada, UAE and 210 Global Destinations

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Treepz, Africa’s leading mobility and travel technology company, has officially launched direct flight bookings on its platform, enabling customers to search, compare and book flights to more than 210 destinations worldwide, including the United Kingdom, Canada and the United Arab Emirates.

The development marks a major milestone in Treepz’s transition from a mobility provider into a fully integrated travel platform. With the new service, travelers can now complete the entire booking process — from flight search to payment — directly on the Treepz website without relying on multiple agents or third-party platforms.

Speaking on the launch, Mr. Onyeka Akumah, Chief Executive Officer and Founder of Treepz, described the initiative as a defining moment for the company and for travel access across Africa.

He said launching flight bookings to serve customers with flights to over 200 destinations was a major achievement, noting that travelers could now search for flights, enter their details, make payments with their cards, and complete bookings instantly on the platform without delays or switching between multiple websites.

The launch comes at a critical time for the African travel market. December is widely regarded as the busiest travel season on the continent, driven by holiday vacations, family reunions, weddings, festivals and end-of-year celebrations.

Millions of Africans travel locally and internationally during this period, often facing challenges with slow booking systems, unclear pricing and fragmented services.

Treepz’s new flight booking system is designed to address these challenges by offering a faster, more intuitive and reliable experience.

Customers can now search and book flight tickets directly on the Treepz website, compare prices and travel options in real time, make payments using any card option, and complete bookings faster without switching platforms.

Treepz has outlined ambitious plans for 2026, including unlocking access to over six million hotels globally, which will allow travelers to book flights and accommodation together in one seamless flow.

The company also plans to expand its car rental services into Europe and South America, further strengthening its position as a one-stop travel ecosystem.

According to Akumah, these developments will significantly reduce planning time for both leisure and corporate travelers, while giving customers more control and convenience.

Treepz has already facilitated more than six million movements across multiple cities and countries, ranging from daily commutes and corporate transportation to group travel and event logistics. With active operations across Africa and recent expansion into Canada, the company continues to grow its international footprint.

The addition of flight bookings strengthens Treepz’s ability to serve global travelers while maintaining its reputation for reliability and customer-focused service.

By integrating flights, accommodation, ground transportation and experiences into one platform, Treepz is positioning itself as more than a mobility provider.

The company is evolving into a comprehensive travel solution designed for modern travelers who value speed, clarity and convenience.

Industry analysts say the move could redefine travel access across Africa, particularly during peak seasons when demand for efficient booking systems is highest.

With this launch, Treepz has taken a bold step toward building a unified, tech-driven travel ecosystem that connects Africa to the world.


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