News
Moniepoint Managers Break Silence on $200M ‘Miraculous’ Fundraise Backed by DPI, Google, Visa, IFC & LeapFrog
Moniepoint Inc., Nigeria’s leading digital financial services provider, has announced the successful close of its Series C funding round, raising over $200 million in equity financing. The investment underscores the company’s rapid growth, sustained profitability, and strong impact in expanding financial inclusion across Africa.
The round was led by Development Partners International’s ADP III fund, with the final close anchored by LeapFrog Investments, a top-tier impact investor. Other high-profile participants include Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, Verod Capital Management, Lightrock, and Alder Tree Investments.
Moniepoint, formerly known as TeamApt, is now one of the few global fintechs — and the first in Africa — to achieve profitability at unicorn scale while driving inclusion for millions of underserved individuals and businesses. With over 10 million active users and an annual digital transaction value exceeding $250 billion, the company has cemented its status as a cornerstone of Africa’s digital economy.
Funding to Fuel Expansion and Innovation
According to Moniepoint, the new capital will support its next growth phase — enhancing services for micro, small, and medium-sized enterprises (MSMEs), expanding its presence across Africa, and venturing into new international markets.
The raise follows a period of strong momentum for the company, marked by the launch of MonieWorld, a remittance solution for the African diaspora in the UK, and a new integrated payment and bookkeeping platform for MSMEs. Moniepoint was recently named one of Africa’s fastest-growing companies by the Financial Times for the third consecutive year, and also featured in CNBC’s Top Global Fintech Companies 2025.
Executive and Investor Commentary
Moniepoint’s Group CEO and co-founder Tosin Eniolorunda called the raise a “proud day” for the company.
“We founded Moniepoint to widen financial inclusion and help African entrepreneurs realise their potential. The support from world-leading institutions is a powerful validation of that mission,” said Eniolorunda.
“We will deploy the funds strategically to build momentum in our next chapter — delivering financial happiness for Africans everywhere.”
Development Partners International (DPI), which led the initial close of the round in October 2024, reaffirmed its confidence in the fintech.
“Moniepoint continues to deliver innovation, scale, and profitability. We’re proud to back their leadership as they grow across Africa and beyond,” said DPI Partner Adefolarin Ogunsanya.
LeapFrog Investments Partner Karima Ola emphasized Moniepoint’s impact on African MSMEs:
“MSMEs are the heartbeat of African economies. Moniepoint empowers them with the tools they need to grow, employ others, and formalize operations.”
IFC’s Global Director for Disruptive Technologies, Farid Fezoua, highlighted the fintech’s role in digitizing informal retail:
“Moniepoint is transforming how MSMEs operate in Nigeria. With competitively priced point-of-sale devices and a modern digital platform, it enables growth and job creation in a cash-dominated sector.”
Continued Backing from Global Investors
The Series C round expands Moniepoint’s roster of global blue-chip investors, including QED Investors, Novastar Ventures, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.
Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint throughout the transaction.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved from building bank payment infrastructure to becoming Nigeria’s leading business banking platform, offering a full suite of financial services — including digital payments, business and personal banking, credit, and business management tools.
With this latest funding milestone, Moniepoint is poised to accelerate its mission to empower African businesses and individuals to achieve their financial dreams.
News
UNICEF Lauds Nigeria’s Remarkable Progress in Birth Registration (Photos)
ighlights 14 Million Children Registered in Two Years.
The United Nations Children’s Fund (UNICEF) has commended Nigeria for achieving a significant milestone in child rights, with 14 million children’s births officially registered over the past two years.

This surge represents impressive advancement in ensuring every child is counted and recognized through legal identity.
The announcement came during a courtesy visit by UNICEF Country Representative to Nigeria, Ms. Wafaa Saeed Abdelatef, to Senator Oluremi Tinubu, the First Lady of Nigeria, at the State House in Abuja.
Ms. Abdelatef praised the First Lady’s exemplary leadership in championing children’s issues and family welfare nationwide. She described the progress in birth registration as unprecedented in her experience across various countries.

“Birth registration is the first right of every child—to be counted and recognized,” she stated. “It is really impressive. I have served in many places, but I have not seen such progress in two years as we have witnessed here in Nigeria.
“She highlighted key enablers of this success, including the digitalization of the registration system at health facilities and community levels, as well as ongoing legislative efforts with a relevant bill before the National Assembly.

“Things don’t just happen like that; we scale with leadership,” she added, expressing gratitude for the First Lady’s role in driving this initiative and allowing UNICEF to celebrate this “fantastic leadership.
“The UNICEF representative also acknowledged the First Lady’s broader contributions, referencing her involvement in initiatives such as the national library and food bank launches, as well as commendations from African women leaders at the African Union for her continental impact.

She linked these efforts to Nigeria’s Renewed Hope Agenda, which she said is instilling hope for children and citizens alike.In response, Senator Oluremi Tinubu welcomed UNICEF’s recognition and reaffirmed her commitment to ensuring universal birth registration. “Every child counts,” she emphasized, noting that registration immediately after birth grants children nationality, legal identity, and access to essential services like health and education.
The First Lady described the news as a source of joy and a foundation for national development. “This is how nations develop,” she said. While celebrating the gains, she stressed the need for sustained efforts: “We are not there yet. We have to keep at it and make sure every child is counted.
“She pointed out that birth registration is just the starting point, extending to the issuance of birth certificates. Highlighting Nigeria’s lack of a recent census, she noted that starting with children would provide critical data on the child population to guide government planning and resource allocation.
Senator Tinubu also addressed persistent challenges, expressing concern over persistently high rates of tuberculosis, HIV/AIDS, and maternal and child mortality in Nigeria’s large population.
“These numbers are still high, and it is worrisome,” she said, while assuring that the administration is actively working to position the country for a better future.
She expressed appreciation for UNICEF’s longstanding support and reliable data, pledging continued collaboration in any area of mutual interest. “In any area you want us to collaborate, we are here,” she affirmed. “We want to thank UNICEF for the interest and the work you have done.
“This development underscores Nigeria’s ongoing push toward universal civil registration, aligning with global goals to provide legal identity for all children and support broader child rights and development objectives.
News
Navy’s Chief of Operations, Rear Admiral Katagum dies in Egypt
Rear Admiral Katagum previously served as the Director, Naval Intelligence., he’s one time Deputy Defence Adviser, Paris, France and was at the Defence Headquarters before his recent appointment as Chief of Operations by the Chief of Naval Staff, Vice Admiral Idi Abass.
Photo: Rear Admiral Musa Katagun
Chief of Operations at Naval headquarters, Rear Admiral Musa Katagun is dead at a hospital in Egypt.
News of Rear Admiral Katagun’s death was confirmed by military sources on Thursday.
Katagum is said to have traveled to Egypt for follow up medical evaluation after undergoing an initial surgery in September last year.
Rear Admiral Katagum previously served as the Director, Naval Intelligence., he’s one time Deputy Defence Adviser, Paris, France and was at the Defence Headquarters before his recent appointment as Chief of Operations by the Chief of Naval Staff, Vice Admiral Idi Abass.
News
Ondo monarch gunned down outside palace
The armed men were said to have attempted to kidnap him but he refused, resulting to being shot.
•Kehinde Jacob Faledon
Kehinde Jacob Faledon, the traditional ruler of Agamo Community in Akure North Local Government Area of Ondo State, has been shot dead.
Police Public Relations Officer in Ondo, Jimoh Abayomi, confirmed the incident, said that the monarch was killed after gunmen forced him out of the palace, on Wednesday night.
The armed men were said to have attempted to kidnap him but he refused, resulting to being shot.
“Information reached the division at about 7:50pm from a community leader, High Chief Ajewole Clement of New Town, Itaogbolu, that about six armed men stormed the residence of the monarch and forcibly took him away,” Abayomi said.
“The victim was subsequently found with gunshot injuries and was confirmed dead at the scene.
“The divisional police officer supported by tactical teams of the command, mobilised officers in collaboration with local hunters, Atuluse Security, and Amotekun operatives are combing the surrounding bushes and neighbouring communities.
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