Onome Amuge
Moniepoint Inc., one of Africa’s most profitable and fast-scaling financial technology firms, has secured more than $200 million in Series C equity funding, marking one of the continent’s largest fintech investments this year and reinforcing growing investor confidence in Africa’s maturing digital finance ecosystem.
The round, led by Development Partners International’s (DPI) African Development (ADP) III fund, and anchored by LeapFrog Investments, showcases how investors are recalibrating toward financially sustainable fintechs with proven profitability, operational discipline, and scalable impact. Other backers in the round include Lightrock, Alder Tree Investments, Visa, Google’s Africa Investment Fund, and major development finance institutions such as the IFC, Proparco, Swedfund, and Verod Capital Management.
With this raise, Moniepoint cements its position as a standout case in a sector long criticised for cash burn and unprofitable growth. It also signals an evolution in Africa’s fintech landscape; from the early years of payments disruption to a new phase defined by integrated financial infrastructure, strong regulatory alignment, and sustainability-focused expansion.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint, formerly known as TeamApt,has built a vertically integrated business model serving both merchants and individuals. The platform now processes over US$250 billion annually in transaction value and boasts more than 10 million active users across business and personal banking.
Its model, serving micro, small, and medium enterprises (MSMEs) as both a bank and payments enabler, has allowed it to generate revenue streams from digital transactions, agency banking, and credit, while maintaining profitability. In an industry where few players survive long enough to scale without external capital infusions, Moniepoint’s ability to grow profitably has drawn strong comparisons to Latin American giant Nubank and India’s Paytm, though with a sharper focus on Africa’s informal and underbanked economies.
“This is a proud day for Moniepoint, and I extend my sincere gratitude to the entire team for their tireless work to make this possible. We founded the Company out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential. That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions.
“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,” said Eniolorunda, Moniepoint’s Group CEO.
For lead investor Development Partners International, Moniepoint’s trajectory represents a template for scalable, sustainable digital finance in Africa. “Since leading the first close of this landmark Series C, we have seen Moniepoint reach new heights—delivering innovation alongside sustained growth and profitability.
“We continue to be impressed by Moniepoint’s powerful combination of commercial success and its impact on financial inclusion,” said Adefolarin Ogunsanya, partner at DPI.
LeapFrog Investments’ Partner Karima Ola added that the fund’s participation reflects a long-term conviction in Africa’s MSME-driven economy. “MSMEs are the heartbeat of African economies. Yet the vast majority lack access to digital banking and formal credit. Moniepoint has become an indispensable partner by empowering them with the digital tools and trust they need to transact, grow, and employ others at scale,” Karima said.
For IFC, Visa, and other institutional backers, Moniepoint’s infrastructure offers a gateway to the next generation of African commerce. Farid Fezoua, global director for Disruptive Technologies at IFC, noted that the company’s merchant-first model directly supports job creation and formalisation of small businesses. “Moniepoint provides competitively priced point-of-sale devices, as well as a platform enabling MSMEs to access loans, bookkeeping, and other digital tools. This allows merchants to grow and create more jobs in a sector considered the backbone of Nigeria’s economy,” he said.
Analysts say Moniepoint’s raise represents a shift from valuation-driven capital to performance-driven investment. The company has consistently ranked among Africa’s fastest-growing firms; three times listed by the Financial Times and was featured on CNBC’s list of the world’s top fintechs in 2025.
Its recent launches, including MonieWorld, a remittance platform targeting the African diaspora in the UK, and an integrated bookkeeping solution for MSME, highlight its ambition to bridge African businesses with global financial ecosystems.
With nearly 40 per cent of adults in sub-Saharan Africa still excluded from formal financial systems, Moniepoint’s ability to integrate payments, credit, and business tools offers a pathway to formalization for millions of informal traders. Its expansion plans reflect a long-term pivot toward becoming a full-service financial hub across Africa, positioning itself as a competitor not only to legacy banks but also to regional fintech leaders like M-Pesa and Flutterwave.
Moniepoint’s next growth phase will involve consolidating its Nigerian dominance while scaling into other African markets and global corridors where the African diaspora drives remittance flows. Insiders suggest the firm is exploring regulatory approvals in key East and Southern African markets while investing heavily in compliance, cybersecurity, and digital infrastructure.
The company’s governance model also stands out. By combining private equity oversight from DPI and LeapFrog with corporate partnerships from Visa and Google, Moniepoint is seen as a hybrid operator—balancing social impact and institutional discipline. Its current board composition reflects an emphasis on transparency and governance rarely seen in early-stage African fintechs.
