Moni goes into receivership
Laurence Aderemi, Moni
UK-based payments firm Moni has gone into receivership.
Moni says its business and assets are being marketed for sale; and joint administrators have been appointed.
If people have queries or are “owed money”, Moni is directing them to an advisory service.
The firm did offer a mobile payment app for iOS and Android – similar to Paym or Barclays’ Pingit – but for money transfers overseas. The rates were seen as reasonable and it charged £0.99 per payment.
Moni wasn’t around for long as it was launched by Laurence Aderemi and Fernando Saturno in 2015.
Previously, Aderemi was Google’s head of mobile strategic partnerships in Europe. He joined Google as part of the AdMob acquisition where he led strategy and business development for EMEA. Before AdMob, he was European general manager at Yahoo.
Saturno was also CMO/CPO at Moni. He held management roles at several VC and privately-backed European start-ups. Saturno was head of Yahoo’s mobile product team; and led product and strategy teams at Yell Group and AOL Euro.
The death of Moni proves that the payments space is highly competitive, crowded and unforgiving.
The now defunct Moni should not be confused with MONI. The latter has a registered office in Gibraltar. It is still doing business and is active on social media.
MONI offers a prepaid MasterCard and instant transfers.
