Moniepoint, a leading Nigerian fintech company, has successfully raised an additional $90 million in its Series C funding round, bringing the total capital
raised to $200 million. This strategic investment aims to accelerate Moniepoint’s expansion across Africa
and into international markets, reinforcing its commitment to enhancing financial inclusion and providing innovative digital banking solutions.
The latest funding round was led by Development Partners International (DPI) through its African Development Partners III fund, with significant participation from LeapFrog
Investments. Other notable investors include Lightrock, Alder Tree Investments, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital
Management. Additionally, Google’s Africa Investment Fund has continued its support for Moniepoint, underscoring the company’s growing influence in the fintech sector.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved from a software provider for Nigerian commercial banks to a comprehensive
digital banking platform. The company now serves over 10 million personal and business banking customers across Africa, processing more than $250 billion in digital payment transactions annually.
The new capital will enable Moniepoint to further develop its suite of services, including digital payments, banking,
credit, and business management tools. The company has already launched MonieWorld, an international remittance
solution, and acquired a 78% majority stake in Kenya’s Sumac Microfinance Bank, approved by the Competition Authority of Kenya in June 2025.
Tosin Eniolorunda, CEO of Moniepoint, emphasized the company’s dedication to fostering financial inclusion:
“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.”
With this significant investment, Moniepoint is poised to continue its mission of empowering African businesses and individuals through accessible and innovative financial services.
Kindly Share this News!!!