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
Eko Electricity blames Lekki-Ajah power outages on feeders disruption
The following feeders are currently out of supply: Ibeju, Ajah Local 1, Medallion Data, Urban Prime, Main One, Maroko, Chevron, Oke-Ira, Ikate Express, Ilasan, NTDA 1, Eleko,” the company said.
Eko Electricity Distribution Plc (EKEDP) has announced a power outage across parts of Lagos, including Lekki, Ajah and Ibeju-Lekki, following a loss of supply affecting 12 feeders.
The affected feeders are Ibeju, Ajah Local 1, Medallion Data, Urban Prime, Main One, Maroko, Chevron, Oke-Ira, Ikate Express, Ilasan, NTDA 1 and Eleko.
In a notice to customers, EKEDP said the VGC, Oke-Ira and Agungi injection substations were also affected by the disruption.
The distribution company attributed the outage to a fault affecting electricity supply within the Lekki, Ajah and Ibeju-Lekki axis.
The following feeders are currently out of supply: Ibeju, Ajah Local 1, Medallion Data, Urban Prime, Main One, Maroko, Chevron, Oke-Ira, Ikate Express, Ilasan, NTDA 1, Eleko,” the company said.
EKEDP said it was working with the Transmission Company of Nigeria (TCN) to restore the affected transformer and reconnect all the impacted feeders.
News
IGP Disu Launches Nigeria Police Force Vigilant App, for Tracking Crimes
” The police cannot be everywhere at the same time, but through technology and partnership with the citizens, we can significantly expand our capability to prevent and respond to crimes,” he noted.
The Inspector-General of Police, IGP Olatunji Disu, has launched the Nigeria Police Force Vigilant App as part of efforts to strengthen public engagement, internal communication and the fight against increasingly sophisticated crimes.
Disu also unveiled MTN Closed User Group (CUG) Network for strengthening communication among police commands, formations, divisions and specialised units nationwide.
Speaking during the launch ceremony in Abuja, IGP Disu said that the changing nature of crime and the speed at which information travels have made it necessary for the police to embrace technology.
The policing environment is changing rapidly. Crime is becoming more sophisticated. Information moves faster, and citizens increasingly expect public institutions to be accessible and respond to technology,”said Disu.
He explained that the Vigilant App was designed to improve communication between the police and members of the public by enhancing information sharing and citizen engagement.
The IGP urged Nigerians to use the platform responsibly to report suspicious activities, provide useful information and seek assistance when necessary .
Disu also charged officers managing the platform to operate with professionalism and integrity, stressing that information received through the system must be handled responsibly, investigated diligently and protected appropriately.
“The police cannot be everywhere at the same time, but through technology and partnership with the citizens, we can significantly expand our capability to prevent and respond to crimes,” he noted.
Disu observed that effective communication often determines the success of operations, emergency responses and investigations.
“In policing, information delayed can be information lost,” the IGP declared.
News
Edo Influential Politician, Daniel Orbih, dies at 64 •Obaseki mourns
Obaseki said Orbih’s contributions to Nigerian politics and the PDP remained significant, particularly during his years of service in Edo.
•Chief Daniel Osi Orbih
Chief Daniel Osi Orbih, a chieftain of the Peoples Democratic Party (PDP) is dead, aged 64.
Orbih, known by his traditional title, the Kulukulu 1 of Ogoni Land and Oduma of Uzairue, reportedly died on Monday, 31st August 2026.
His death was confirmed in a statement issued by his family and signed by Francis Udukhomoi Orbih, Esq., on behalf of the Orbih family.
Orbih was born on the 27th of October, 1961, to Chief and Mrs M.C.K. Orbih of Ogbona in Etsako Central Local Government.
He ventured into politics in 1999, and was the deputy governorship candidate of the All Peoples Party (APP) in Edo State, describing Orbih as a prominent figure and influential voice in Edo politics.
Condolences
Former governor of Edo, Godwin Obaseki, lamented that Orbih ‘s death represents a significant loss to Edo.
Obaseki said Orbih’s contributions to Nigerian politics and the PDP remained significant, particularly during his years of service in Edo.
“For many years, he provided leadership to the Peoples’ Democratic Party (PDP) in Edo State as its State Chairman and subsequently served as the PDP National Vice Chairman, South-South.
“Through these roles, he contributed significantly to the development of the party in the Edo State and Nigeria, ” he said.
He emphasised that the former PDP chairman’s death represented a significant loss to Edo State and Nigeria, while commiserating with his family, friends and political associates.
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