Prime Business Africa
Moniepoint Inc. announces that it has raised over US$200 million in equity financing in a recently closed Series C funding round. The company says the investment reflects its rapid growth, sustained profitability and proven impact, and will fuel its ongoing mission to power the financial dreams of millions of businesses and their customers across Africa and the global diaspora.
The round was led by Development Partners International’s African Development (ADP) III fund, with the final close anchored by LeapFrog Investments, a leading impact investor. Other investors in the round include Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.
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SUMMARY
A $200 million Series C fundraise close;
Investors include Google’s ‘Africa Investment Fund’, Visa, the round lead – DPI (Development Partners International), International Finance Corporation, and LeapFrog Investments;
Moniepoint – which is profitable – processes $250 billion of transactions annually for 10 million+ business & personal banking customers;
Proceeds: accelerating African and international expansion – building all-in-one platform for African businesses and consumers and the African diaspora;
Follows UK market entry and launch of digital financial services + remittance product – MonieWorld – in April 2025; and
Moniepoint consistently ranked as one of Africa’s fastest-growing fintechs by the Financial Times for the last three years (2023-2025)
Moniepoint is one of the few fintechs globally, and the first in Africa, to achieve profitability at unicorn scale while driving financial inclusion. As Nigeria’s leading payments and digital banking platform, its customer base exceeds 10 million active businesses and personal banking customers, and it processes over US$250 billion in digital payments transaction value annually.
The proceeds of the round will be used to power the Company’s next phase of growth, enhancing its capacity to help African businesses and individuals realise their financial dreams and accelerating Moniepoint’s continued expansion across the continent and into international markets.
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The closure of the funding round marks a highly successful period featuring notable product launches, such as MonieWorld – a remittance solution targeting the African diaspora in the United Kingdom and the launch of its integrated payment and bookkeeping solution designed to simplify business operations for micro, small, and medium-sized enterprises (MSMEs). Moniepoint was ranked as one of Africa’s fastest-growing companies for the third consecutive year by the Financial Times and featured among CNBC’s list of the world’s top fintech companies in 2025.
Moniepoint Inc. (formerly TeamApt Inc.) was founded in 2015 by Tosin Eniolorunda and Felix Ike. Today, it is Nigeria’s leading business banking provider and a trusted financial platform for the country’s MSMEs. Originally rooted in building payment infrastructure and solutions for banks, Moniepoint has considerably expanded its offerings to include digital payments, business and personal banking, credit, cross-border payments, and business management tools.
What Moniepoint Leaders Say
“This is a proud day for Moniepoint, and I extend my sincere gratitude to the entire team for their tireless work to make this possible. We founded the Company out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential. That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions, said Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc.
“We will not rest on our laurels. The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story – with financial happiness for Africans everywhere remaining our ultimate goal,” Eniolorunda said, in an email excahne with Prime Business Africa.
Adefolarin Ogunsanya, Partner at Development Partners International , had this to say: “Since leading the first close of this landmark Series C, we have seen Moniepoint reach new heights – delivering innovation alongside sustained growth and profitability. DPI is proud to have anchored this round, reaffirming our conviction and support for the business and its leadership team. We continue to be impressed by Moniepoint’s powerful combination of commercial success and its impact on financial inclusion, and look forward to our continued partnership with Tosin and his team as they scale further in Nigeria, across Africa and beyond.”
For Karima Ola, Partner at LeapFrog Investments, “MSMEs are the heartbeat of African economies – creating the majority of jobs and driving innovation. However, the vast majority have no access to digital banking and formal credit. Moniepoint has become an indispensable partner to MSMEs by empowering them with the digital tools and trust they need to transact, grow, and employ others at scale.
“At LeapFrog, our vision is to support the ongoing evolution of Africa’s financial infrastructure – where global digital payment ecosystems are well connected; cross-border payments are smooth, safe and affordable; and SMEs have seamless access to credit, digital payments, and the wider suite of financial tools they need to thrive. Our investment in Moniepoint epitomises that vision.”
Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at IFC, said: “IFC has extensive experience in investing in technology-driven startups that help businesses process and accept payments in emerging markets. We look forward to supporting Moniepoint’s effort to increase the adoption of digital payments among MSME retailers in Nigeria, a segment underserved by banks and other traditional financial institutions. Moniepoint provides competitively priced point-of-service devices, as well as a modern platform enabling MSMEs to access loans, bookkeeping, and several other offerings. This allows merchants to grow their business and create more jobs in a sector considered the backbone of Nigeria’s economy, where cash is still predominant.”
Prime Business Africa repoorts that the latest capital raise sees Moniepoint expand its roster of blue-chip investors which already comprises institutions including QED Investors, Novastar Ventures, Lightrock, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.
Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint in this transaction.
Recall that the Series C round’s first close announcement took place in October 2024.
