[FW Radar] Monaize, the mobile banking account for the self-employed
Founded in January 2017 by Vincent Rajoo and Guillaume Derivery, Monaize is a mobile platform for very small businesses and freelancers.
More details with Manon Lavergne, Growth Strategist at Monaize.
FrenchWeb: What needs does your service meet?
Manon Lavergne, Growth Strategist at Monaize: VSEs and freelancers are considered unprofitable customers for banks, hence the fact that there are few services adapted to these people, and their cost is quite high. Monaize is a banking alternative that meets a need on the part of today’s generation entrepreneurs who are looking for more ethical and collaborative solutions.
What’s your value proposition?
Today, the banking aspect can put off some independents or very small businesses by its complexity and its price. We provide a simple solution that allows them to devote themselves fully to their project. This is why we offer an innovative offer through collection services, financing and insurance products adapted to their needs.
Who are the users of your solution?
Our users are rather those who work on collaborative platforms such as Uber, Shiva, Kang and 404 works… Banks do not consider these people as independent workers, much less as entrepreneurs; hence often the refusal to open a professional account in a traditional bank. This generation of entrepreneurs is more often nomadic, tech-savvy and very connected.
Who are your competitors?
Our main competitors are IbanFirst, Anytime, Soon and Qonto. We are a “mobile first” platform unlike our competitors and we have ultra competitive rates.
What is your development plan?
Our platform will be launched at the end of April with the possibility of opening a professional account, new services will be implemented throughout the year. For the moment we are only targeting France but why not internationalize in the future.
What are your challenges?
Today the market remains very interesting because there are more than 3 million self-employed in France, including 300,000 who are under 30 years old. We have an ultra competitive offer with an annual price of 100 euros excluding tax. Our objective is to raise funds after the release of our product. We are in discussions with several large investment funds. We are always on the lookout for competent profiles in the IT field.
Monaize: the key data
Founders: Vincent Rajoo and Guillaume Derivery
Creation date : january 2017
Fundraising : any
Seat : Paris
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