Moniepoint Extends Series C To USD 200 M To Power Financial Inclusion Across Africa

Moniepoint Inc., a prominent all-in-one financial platform for businesses and consumers that took off in Nigeria, has successfully topped up its Series C to USD 200 M, led by Development Partners International (DPI) and joined by LeapFrog Investments, with participation from Google’s Africa Investment Fund, Visa, IFC, Proparco, Swedfund, Lightrock, and Verod Capital Management.

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has become Nigeria’s largest business banking provider and one of Africa’s most profitable fintech unicorns, processing over USD 250 B in digital transactions annually for more than 10 million customers.

The fresh capital will accelerate Moniepoint’s expansion across Africa and international markets, strengthen its digital banking and payments ecosystem, and fuel products like MonieWorld, its diaspora remittance solution.

Ranked among Africa’s fastest-growing companies by the Financial Times for three consecutive years, Moniepoint, which became a unicorn after an initial USD 110 M Series C announcement a year ago before topping it up with USD 10 M from Visa in January, continues its mission to drive financial inclusion and empower MSMEs across the continent.