FairMoney is a startup specializing in online banking services. Established in 2017 by Laurin Hainy, Matthieu Gendreau, and Nicolas Berthozat, FairMoney provides a mobile application that offers microcredit facilities to customers, both businesses and individuals, in emerging markets.

FairMoney initially focused on providing credit services to small entrepreneurs, who account for over 60% of their loans, and individuals to cater to their financial needs. The application serves as a simple-to-use, one-stop banking hub for its customers. It has chosen Nigeria as its first market, with plans to expand its services to neighboring countries and Southeast Asia.

With its recent €10 million funding from Flourish Ventures, DST Global partners, and existing investors Newfund, Speedinvest, and Le Studio VC, FairMoney plans to rapidly broaden its range of services. The startup aspires to become akin to the UK-based Revolut, but with services tailored to the everyday needs of customers in emerging markets.

With the new capital injection, FairMoney aims to offer a more comprehensive banking package to its customers, including credit, payment, current account, savings account, and money transfer services. The fintech firm is also planning to launch a mobile wallet and a savings account feature on the application.

Since its inception, FairMoney has been a game-changer in providing banking and financial services to underserved markets. As of now, the company boasts over 200,000 customers, a testament to its successful efforts in filling the gap in financial services within these markets.

With an expanding product range and a continued focus on serving the financial needs of customers in emerging markets, FairMoney is poised for growth and is likely to play a significant role in the financial inclusion narrative in the years to come.