Moniepoint Inc., Africa’s prominent fintech platform, has successfully completed its Series C funding round with an additional $90 million investment, bringing the total raised in this round to over $200 million. This significant capital infusion has solidified Moniepoint’s valuation above $1 billion, reaffirming its status as a leading unicorn in Africa’s rapidly evolving digital finance sector. The initial $110 million close of this Series C round was first announced in 2024, and the latest funding round was led by Development Partners International’s (DPI) African Development Partners III fund, with substantial backing from LeapFrog Investments. Other notable participants in this round include Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management, highlighting broad investor confidence in Moniepoint’s trajectory.

The newly secured capital is earmarked to accelerate Moniepoint’s ambitious expansion strategies. The company plans to bolster its comprehensive suite of financial tools for African businesses and individuals, while also facilitating significant growth into new markets across the continent and internationally. Tosin Eniolorunda, Moniepoint’s co-founder and group CEO, expressed immense pride in this achievement, attributing it to the team’s unwavering dedication. He emphasized the company's foundational passion for widening financial inclusion and empowering African entrepreneurs, a mission that continues to drive its operations. Eniolorunda affirmed that the funds would be deployed strategically to generate further momentum, with the ultimate goal of achieving "financial happiness for Africans everywhere."

Investors lauded Moniepoint’s unique blend of commercial success and profound social impact. Adefolarin Ogunsanya, a partner at DPI, praised Moniepoint’s sustained growth, innovation, and profitability since the initial close, reinforcing DPI's conviction in the business and its leadership. Karima Ola, a partner at LeapFrog Investments, underscored the vital role of micro, small, and medium-sized enterprises (MSMEs) in African economies. She highlighted Moniepoint's indispensable partnership with MSMEs, providing them with essential digital tools and trust needed for transactions, growth, and job creation. Ola also articulated LeapFrog’s vision to support the evolution of Africa’s financial infrastructure, ensuring smooth cross-border payments and seamless access to credit and digital tools for SMEs. Farid Fezoua, global director for disruptive technologies at IFC, commended Moniepoint’s dedication to underserved segments, particularly MSME retailers in Nigeria who often lack access to traditional banking services.

Founded in 2015 by Tosin Eniolorunda and Felix Ike as TeamApt Inc., Moniepoint has undergone a significant transformation. Initially a payment infrastructure provider for banks, it has evolved into a comprehensive platform offering digital payments, business and personal banking, credit solutions, and cross-border transfers. The company currently serves more than 10 million active business and personal banking customers, processing over $250 billion in digital payments annually. Moniepoint stands out as a global fintech, and notably the first in Africa, to achieve profitability while operating at a unicorn scale and simultaneously advancing financial inclusion across the continent.

This funding round arrives amidst a series of strategic accomplishments and expansions for Moniepoint. The company launched MonieWorld, a remittance service designed for the African diaspora in the United Kingdom, allowing UK residents to send money directly to Nigerian bank accounts. Furthermore, it has introduced an integrated payment and bookkeeping solution for MSMEs and expanded its product offerings to include inventory management and contactless payment cards. In a significant move to deepen its market presence, Moniepoint secured approval from the Competition Authority of Kenya (CAK) to acquire a majority stake in Sumac, a Kenyan microfinance bank, which will provide a foothold in Kenya’s substantial mobile payments market. The company has also been recognized by the Financial Times as one of Africa’s fastest-growing firms for three consecutive years and was featured on CNBC’s list of the world’s top fintech companies in 2025. While its expansion efforts, particularly in the UK where it earmarked $7.39 million for operations, have seen some initial investments resulting in a reported $1.2 million loss, Moniepoint remains strategically positioned with robust capital and the backing of global investors to strengthen its footprint both domestically as Nigeria’s leading merchant acquirer and internationally.