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.