Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Business Description | Company Details |
---|---|
Official Website | http://www.moniepoint.com/ |
Headquaters | Southwark, United Kingdom |
Country | Feautured, Nigeria, UK, USA |
Company's Networth | $50M |
Business Type | Private Company |
Year Founded | 2015-06-01 |
Company Email | info@moniepoint.com |
Company Size | 1001 - Above |
Co-Founder(s) | Tosin Eniolorunda |
Recieved Funding? | yes |
Number of Funding rounds | 19 |
Funding Type | Venture capital |
Venture Capitalist | Bossanova Investimentos, Fedha Capital, Global Ventures (Dubai), QED Investors, The Continent Venture Partners, etc. |
Industry | Finance, Financial Software, FinTech |
Specialty | |
Linkedin Profile | https://www.linkedin.com/showcase/moniepoint-inc/ |
Moniepoint Inc. (formerly TeamApt Inc), is a fintech company founded by Tosin Eniolorunda and Felix Ike in 2015. The two met during their time at Interswitch. Their focus is to provide financial solutions for businesses.
This company was founded in Lagos, Nigeria and is now based in London, United Kingdom.
In 2019, Nigeria granted Moniepoint Inc. a switching license. After obtaining a banking license from the Nigerian Central Bank in 2022, Moniepoint started providing commercial banking services to Nigerian merchants. In keeping with the Central Bank of Nigeria’s objective of financial inclusion, Moniepoint introduced personal banking services for individuals in July 2023.
Established as Moniepoint Microfinance Bank, it provides a wide range of financial solutions, including banking, payments processing, loans, and business management tools. Moniepoint serves over 3 million customers, processing about ₦30 trillion monthly. The platform is popular for its extensive network of financial service distribution, reaching every local government area in Nigeria
According to Global Ventures, Moniepoint is recognized as the second-fastest growing company in Africa.
PitchBook confirmed that Moniepoint has 19 investors with few being Bossanova Investimentos, Fedha Capital, Global Ventures (Dubai), QED Investors, The Continent Venture Partners, etc.
The headquarter of Moniepoint is in London, 241 Southwark Bridge Rd, United Kingdom, and also has 3 office locations.
241, Southwark bridge road, SE1 6FP, United Kingdom
Suite 105, 112 S. French Street, Wilmington, Delaware, United States of America
The Post Square, Off Adeola Odeku, Victoria Island, Lagos, Nigeria
To bring financial happiness to people by empowering businesses with the necessary tools to thrive and grow. They aim to provide seamless financial services that enhance the economic activities of small and medium-sized enterprises across Nigeria.
Moniepoint envisions becoming the most trusted and inclusive financial services provider for businesses in emerging markets, offering comprehensive solutions that facilitate financial growth and stability.
The core values that guide the services at Moniepoint are:
Moniepoint provides the following financial services to meet the needs of businesses and individuals:
In 2023, Moniepoint processed 5.2 billion transactions valued at over $150 billion. That year, it was the second-fastest-growing company in Africa, according to the Financial Times. By January 2024, around 2.3 million businesses were using Moniepoint’s payment machines. Most of Moniepoint’s income comes from fees on its point-of-sale machines and its online payment gateway. The company also offers business loans through its microfinance bank license.
So far, Moniepoint has raised over $85.6 million from investors like QED Investors, Quantum Capital Partners, and Global Ventures. The company’s expansion is supported by more than 600,000 “business managers,” who earn commissions by signing up businesses and distributing POS terminals.