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Moniepoint Inc. has Secured an Additional $90 Million in Its Series C Funding Round, Pushing its Valuation Above $1 Billion
Moniepoint Inc., one of Africa’s top fintech companies, just got a big boost, it has secured an additional $90 million in its Series C funding round. This big jump in investment has pushed the company’s total value to over $1 billion, officially making it a unicorn. That’s a huge deal in the world of African digital finance.
This new $90 million is part of a Series C round that now totals more than $200 million, with the first chunk of $110 million announced last year. Moniepoint has secured this extra cash to help it grow even bigger and reach more people across Africa and other markets.
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Leading this round was Development Partners International’s fund, with big support from LeapFrog Investments and others like Google’s Africa Investment Fund, Visa, and the International Finance Corporation. These backers believe in Moniepoint’s mission and see huge potential in its services.
Founded back in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint started off helping banks with payment infrastructure. But it’s come a long way since then. Now, it’s a full digital platform offering payments, banking, credit, money transfers across borders, and managing tools for businesses and individuals. With over 10 million active users and $250 billion in payments processed every year, Moniepoint is thriving.
Tosin Eniolorunda, Moniepoint’s CEO, says this achievement is a proud moment for the team who work hard every day to help African businesses grow. The goal has always been to improve financial inclusion and support entrepreneurs—and this funding will help them do even more.
The investors are excited too. They see Moniepoint as a great mix of a profitable business and a positive impact on the community. For example, Adefolarin Ogunsanya from Development Partners International praised the company’s innovation and steady growth, while Karima Ola from LeapFrog said Moniepoint is a key partner helping small and medium businesses get digital banking and credit access.
Moniepoint is also tackling challenges by helping the many small businesses in Africa that don’t have access to traditional banking. This investment also supports new services like MonieWorld, a money transfer service for Africans living in the UK to send money home easily.
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The company has won several awards and made global lists for being one of Africa’s fastest-growing fintech companies. They handle lots of payments at stores in Nigeria and keep working hard to make payments, banking, and credit easier and more reliable for users.
In summary, Moniepoint has landed an extra $90 million in its Series C funding, pushing its valuation above $1 billion. This money will help it grow even faster and reach more people with the digital financial tools they need to succeed. It’s a big win for Moniepoint, its investors, and the African businesses it serves.
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