Rank pools savings to give Nigerians access to wealth‑building investments
Rank (formerly Moni) has launched a pooled‑savings platform that lets Nigerians combine small contributions to access investment opportunities usually reserved for wealthier investors, after acquiring AjoMoney and Zazzau Microfinance Bank and rebranding in November 2025. CEO Femi Iromini notes that formal saving is rising—38% of adults and 69% of those with a transactional account save formally, per EFInA’s 2023 survey—but many experience savings fatigue because the path to wealth creation remains blocked.
By pooling money, Rank creates the volume, information access, and leverage that high‑net‑worth individuals use to build wealth. For example, saving ₦500,000 a month alone would take 16 years and 8 months to reach ₦100 million with zero returns; with Rank’s illustrative 23% annual yield, the same goal is reached in 6 years and 11 months, cutting the timeline by 58%. The platform offers three products: Tribe for groups that know each other and want to invest together, Money Circles that digitize traditional ajo/esusu savings, and Perks that brings salary‑backed credit and savings circles to workplaces. Rank says it has facilitated over $100 million in community fundraising and expects that figure to more than double by end‑2026, while user retention averages 95‑98%.
Rank targets formal salaried workers; the typical user is about 23 years old and contributes roughly ₦50,000 monthly. To participate, Nigerians can sign up via the Rank app or website, select a product that matches their goal, and begin contributing. The 23% yield is an illustrative assumption, not a guaranteed return, and the model does not account for taxes, fees, inflation or losses. Interested savers should weigh whether pooling through Rank could accelerate their wealth‑building timeline compared with saving alone.