Moniex, a financial technology company focused on empowering retail investors and small and medium-sized enterprises (SMEs), says that three Nigerian SMEs have raised a total of N100 million within the first 100 days of the company’s launch.

The three SMEs that raised funds through Moniex’s platform include Q21 Solutions, an event planning and management company (₦35m) ; Imose Technnologies, a Nigerian smartphone and telecom device manufacturer (₦50m), and Alatiron, a player in the Nigerian consumer leasing and supply chain financing industry (₦35m), Obelix 4.1.1 Alternative Finance Ltd, which operates the Moniework crowdfunding portal, says.

The achievement, the digital crowdfunding service says, underscores Moniex’s commitment to supporting the growth and development of SMEs in Nigeria.

How Moniex digital crowdfunding platform works

“In this same period,” Obelix says, “the portal has consistently paid interest to investors every Friday in keeping with its proposition of weekly coupon payments. In addition, It is noteworthy that the 30-day and 45-day notes hosted on the portal have fully redeemed.”

According to the crowdfunding platform promoters, while returns on traditional investments are typically received monthly, quarterly and sometimes yearly, “monieworx has introduced weekly interest payments. The increased frequency of payments gives investors greater control over their cash flow.”

Obelix says the zero-default by the 3 SMEs that raised funds on the portal “attests to the advantage of investing through regulated crowdfunding portals. Businesses fundraising on monieworx must go through a thorough vetting process that ensures only the most promising ventures with established and viable business models can secure funding from the growing community of investors on the platform.”

Moniex’s crowdfunding platform is designed to be user-friendly and accessible to retail investors. The platform allows investors to invest in SMEs with as little as N10,000, making it easy for anyone to support the growth of small businesses in Nigeria, according to its promoters.

In addition to its crowdfunding platform, Moniex also offers a range of other financial products and services for both retail investors and SMEs. These include savings accounts, investment accounts, and loans, all designed to help individuals and businesses achieve their financial goals.

“Obelix,” the company statement says, “is a SME financier in Nigeria that recognises the growing potential of crowdfunding as a transparent and simple financial solution, delivering substantial benefits to the local economy. Crowdfunding enables investors of all economic backgrounds to support worthwhile projects; driving innovation and growth in Nigeria.”