Moniepoint, a Nigerian fintech startup, is now worth more than a billion dollars after it raised $110 million in Series C funding from investors. Development Partners International led the round, which also included Google’s Africa Investment Fund, Verod Capital, and Lightrock.
According to Moniepoint founder Tosin Eniolunrunda, the latest investment “will accelerate our growth across Africa, as we build an all-in-one, seamlessly integrated platform for African businesses of all sizes. This platform will include services such as digital payments, banking, cross-border payments, credit, and business management tools, making it a one-stop shop for business solutions.”
The CEO adds that Moniepoint currently processes over 800 million transactions, with a monthly total value exceeding US$17 billion, while operating profitably.
Founded in 2015 by Tosin Eniolunrunda and Felix Ike, Moniepoint, formerly known as TeamApt, is a financial technology company that offers payments, banking, and a platform tailored for businesses and their customers.
