Invest today in the 1st leading neo-bank in Francophone Africa

Why invest in MiQo?

MiQo is currently a neo-microfinance offering a GREAT financial app that provides a digital-only bank account in less than 2 minutes for individuals and SMEs with a smartphone. MiQo comes with a VISA NFC enabled contactless card and mobile app, with a focus on providing financial services such as instant credit lines, micro-loans and nano-loans in less than 10 seconds without collateral, contactless in-store payments, virtual cards for online payments, domestic and cross-border money transfers, personalised financial education, savings and investment, and most importantly health and business insurance.

In addition, MiQo is the neo-bank for growing, bold and innovative SMEs, self-employed and professionals. The ideal business account for SMEs, replacing or complementing your business bank account. MiQo makes banking for SMEs easy, efficient and transparent, leveraging technology, elegant design and world-class customer service.

MiQo is the financial operating system for the next generation of businesses. We don't want to create another bank, but a different kind of bank, a neo-bank that can help SMEs finance their growth and digital transition. For day-to-day budget management, MiQo offers SMEs an intuitive current account available on computer and mobile with transparent pricing.

MiQo is a trusted platform that enables businesses to create a transparent financial history, which helps SMEs gain better access to instant short-term loans. Integrating Blockchain technology with accounting data is a way to improve transparency, automate lending and speed up processes.

Although there has been a huge profusion of financial services that have emerged in recent years in Africa, MiQo's mission is to fill a specific and very underserved gap in Francophone Africa.

In the region, less than 25% of adults have bank accounts, as the priority for banks remains the 10-20% of the wealthiest customers. The rest, a huge market segment of about 150 million people, is not seen as profitable. But as the banks slackened, mobile payment solutions from the region's telecom operators filled the void. Over the past 10 years, their wallets have reached more than 60% of the population, proving that millions of French speakers were hungry for financial services. Today, this mobile payment infrastructure and reach allows startups to build on their existing payment infrastructure to democratise access via different applications.

MiQo is taking advantage of this opportunity to offer affordable and transparent banking services in the region.

We have been frustrated by the unpleasant banking experiences we and many millennials have faced in our Francophone African countries, MiQo challenges the status quo of the banking sector.

Banking is really hard to access here, and we saw this as a huge opportunity. From day one, we've wanted to design a mobile-first platform that could break through to the masses, and our combined experience in creating mass-market consumer products is very critical to the launch of MiQo.

Millennials in our country are trying to build relationships with technology companies and are served differently than the norm. So MiQo offers this audience a better front-end experience and faster customer service.

There is $392 billion of unmet credit demand from SMEs in Africa (08% of the global credit gap estimated at $4.9 trillion), increasing the unemployment rate to 6.2%. The economic crisis caused by the Coronavirus pandemic has widened the credit gap, which was already quite staggering. It has been estimated that traditional financial institutions in Central Africa reject 72% of financing requests, while approvals can take several weeks/months for due diligence and 3 to 10 working days to get money to the bank.

Bank financing in Cameroon is very selective and discriminatory (the number of borrowers represents only 02.5% of the adult population) due to the complexity of the procedures and the extremely rigorous conditions of eligibility for credit, which automatically exclude the "unbanked", notably those involved in the informal economy.