In its first year of operaing in the United Kingdom, Moniepoint reported a $1.2 million loss. According to regulatory filings, Moniepoint GB generated no revenue between February and December 2024. The parent company funded all operations during this period.
Moniepoint entered the UK market in 2024 with a mission to serve Africans in diaspora and to offer better, more inclusive financial services. One of its first public products in the UK was Monieworld, a digital remittance solution, launched in April 2025.

Acquisition Of Bancom Europe
To accelerate its European expansion, Moniepoint acquired Bancom Europe, an electronic money institution regulated by the UK’s Financial Conduct Authority (FCA). That acquisition closed in July 2025, following a share purchase agreement signed in December 2024. The deal gives Moniepoint access to regulatory permissions across all European Economic Area (EEA) countries through Bancom’s FCA licence.
Bancom Europe specialises in digital financial services. Its key revenue source comes from payment and card-processing services, largely via MasterCard-branded products. However, Bancom showed minimal income in 2024. The company reporteda net loss of £83,646 and negative retained earnings of £2,042. Its reveue dropped drastically from roughly £73,526 in 2023 to about £68 in 2024 showing that Bancom operated almost dormant before Moniepoint’s takeover.
Why Its called Investment Phase
Moniepoint frames the UK loss as a necessary early-stage investment. The company emphasized that entering a regulated market, especially one like the UK, demands heavy upfront spending on compliance, staffing, licensing and infrastructure. Moniepoint said it expected losses during this build-out period. It also reiterated its focus on serving the UK’s African diaspora and delivering “financial happiness” rather than immediate returns.
In statements, Moniepoint said Monieworld exemplifies its strategy: remittances, digital accounts and financial services that cater to diaspora needs. The company asserted that long-term potential in the remittance corridor and payments space justifies initial losses.
Implications for Moniepoint, the UK, and Europe
Owning an FCA-regulated institution gives Moniepoint instant regulatory reach into the EEA without applying for multiple licences. That move should help it scale its service offerings faster, reduce friction and regulatory cost, and compete more effectively in the European payments market.
For customers, this acquisition could mean better, faster remittances and more trust in Moniepoint’s UK-based services. If Moniepoint can execute well, it may offer competitive pricing and speed in markets crowded with existing remittance providers.
However, the path ahead still poses serious challenges. Regulators will expect Moniepoint to maintain operational and compliance standards suited for FCA-regulated entities. Moniepoint must also manage customer acquisition costs, currency risk, and building brand recognition among diasporic communities.
Moniepoint’s $1.2 million loss in its first UK year signals the cost of entering a tightly regulated, competitive foreign market. Yet its acquisition of Bancom Europe delivers regulatory firepower across Europe. For Moniepoint, the move reflects a long-term bet: building infrastructure, trust, and regulatory compliance now to unlock scale later. Whether the investment pays off depends on execution, market differentiation, and the ability to convert diaspora demand into profitable, sustainable operations.