Jimmy Kumako sets up a one-stop finance shop for the African diaspora in Europe

By : Melchior Koba

Date : mardi, 20 juin 2023 11:57

Kuassi Jimmy Kumako (photo) is a computer engineer with a degree from Dakar's Cheikh Anta Diop University (UCAD). He is one of the co-founders of fintech start-up Moneco, which guides members of the African diaspora as they settle in France. It enables them to open an account, have access to an international payment card and make transfers anywhere in Europe.

His startup, founded in 2022, is a one-stop shop for all the financial needs of the African diaspora in Europe. It is the only startup in the S22 batch to be accepted by Y Combinator the same year it began operations. It was developed to help the diaspora save money by aggregating all their financial needs on one platform. 

The Moneco platform enables immigrants settled in Europe to open a current account with local IBAN. It also gives them the possibility to top up their accounts via various methods, set up group saving schemes, send funds to Africa free of charge, and make international payments among other things.  

Besides Moneco, Kuassi Jimmy Kumako also co-founded (in 2016),  a classified ads platform for SMEs based in Francophone Africa. He is a member of the Benin Business Angel Network, an association of local and diaspora entrepreneurs, investors, and professionals willing to invest, open their networks, and guide entrepreneurs in the Beninese ecosystem.

In 2010, he co-founded SITBusiness, which coordinated the design and use of a geographic information system for non-governmental organizations in Senegal. In 2014, he also co-founded Dev Engine Labs, an agency that supports start-ups and banks in the design, creation, and optimization of digital services to meet their customers' needs.

A former consultant in finance, competitiveness, and innovation at the International Finance Corporation (IFC) and ex-business associate at Google, he worked from 2020 to 2022 for Paystack, a fintech specializing in online and offline payments in Africa, as a developer.

Melchior Koba

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