As Africa’s digital economy accelerates, one fintech continues to set the pace. Moniepoint Inc. has secured an extra $90 million in its Series C round, raising the total to $200 million.
It’s more than just funding; it’ss a catalyst for economic inclusion, enabling millions of entrepreneurs and small businesses to thrive in the cashless era.
Backed by strategic investors like Visa, LeapFrog Investments, and Google’s Africa Investment Fund, Moniepoint is ready to supercharge its mission of financial inclusion.
But what exactly is fuelling this investor enthusiasm? And more importantly, what does it signal for the broader African fintech ecosystem?
The Numbers That Speak Volumes: Moniepoint’s Unmatched Scale
Founded in 2015 as TeamApt by CEO Tosin Eniolorunda and CTO Felix Ike, Moniepoint has quietly transformed from a banking software provider into Africa’s go-to platform for business and personal finance.
Today, it serves approximately 10 million customers across Nigeria, Kenya, the UK, and the US, processing over $250 billion in digital payments annually.
What sets Moniepoint apart? Profitability. Moniepoint stands as Africa’s first unicorn to achieve profitability at scale.
Valued at over $1 billion since its initial Series C tranche of $110 million in October 2024, the company is thriving.
This rare blend of unicorn status and black-ink operations has investors excited, proving that sustainable models can indeed conquer emerging markets.
Investor Appetite: A Perfect Storm of Opportunity
So, why now? Several factors are merging to make Moniepoint an irresistible bet.
First, Africa’s digital economy boom. With smartphone penetration surging and a young population hungry for seamless financial services, the continent’s fintech market is projected to hit $230 billion by 2025.
Moniepoint is already capturing a massive slice, empowering micro, small, and medium enterprises (MSMEs), which are the backbone of African economies, with tools for payments, lending, and bookkeeping.
Recent launches like MonieWorld, an international remittance solution rolled out in April 2025, address pain points for the diaspora, enabling effortless money transfers from the UK to Nigeria and beyond.
Second, strategic partnerships with global giants. The latest round, led by impact-focused LeapFrog Investments, builds on commitments from Visa (for payment innovations) and Google (via its Africa Investment Fund, targeting tech-driven inclusion).
They’re endorsements that unlock ecosystems. Visa’s involvement, for instance, strengthens Moniepoint’s card issuance and cross-border capabilities, while Google’s backing accelerates AI-infused tools for fraud detection and personalised banking.
READ ALSO:Moniepoint Just Cracked Kenya’s Microfinance Code But at What Cost?
Third, proven stability amid challenges. Africa’s fintech scene has faced regulatory scrutiny and economic volatility, yet Moniepoint’s resilience shines, delivering real value.
As Eniolorunda puts it: “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.”
The result? Accolades that validate the hype. Moniepoint earned a spot on CNBC’s 2025 list of the world’s top 300 fintech companies (highlighted among the UK’s leaders due to its London incorporation) and was ranked by the Financial Times as one of Africa’s fastest-growing companies for the third straight year.
What Moniepoint’s $200M Series C Means for Africa’s Fintech Future
This raise is a blueprint for what’s next in African fintech. Here’s how it ripples outward:
Hyper-Local Innovation at Continental Scale
The funds will fuel expansion into new markets like Kenya and the UK, while enhancing MSME-centric tools. Imagine integrated platforms that handle everything from inventory management to credit scoring, all tailored to Africa’s informal economies.
Moniepoint’s edge? It’s not imposing Western models; it’s building for local realities, like offline transaction support in low-connectivity areas.
Bridging the Inclusion Gap
Over 400 million unbanked adults in sub-Saharan Africa could soon access formal finance through Moniepoint’s ecosystem.
By prioritising profitability, the company avoids the “growth-at-all-costs” dangers that have sunk others, setting a standard for sustainable inclusion.
A Magnet for More Capital
In a year where global VC dipped amid economic anxiety, Moniepoint’s close demonstrates investor appetite for African stories with substance. It could inspire peers like Flutterwave or Paystack to double down on profitability, encouraging a more mature ecosystem.
The Bottom Line: Empowerment in Action
Moniepoint’s $90 million top-up is a catalyst for an entire continent’s financial renaissance. By blending profitability with purpose, it’s showing that African fintech can lead globally, not just follow.
As Eniolorunda’s vision unfolds, one thing’s clear: investors are investing in a future where every entrepreneur, from Lagos street vendors to Nairobi startups, has the tools to thrive.
For those eyeing Africa’s fintech wave, Moniepoint is the one to watch.
Moniepoint: Powering Digital Banking and Business Payments Across Africa
Moniepoint Bank has become one of Africa’s most trusted digital financial platforms, offering a full range of banking and payment services through the Moniepoint app.
From Moniepoint personal banking to Moniepoint business banking, users can easily manage accounts, send money, and access financial tools designed for growth.
Businesses across Nigeria rely on the Moniepoint POS system for fast, reliable payments, while entrepreneurs can manage transactions via the Moniepoint business login portal.
For enquiries or support, customers can reach out through the Moniepoint contact page or visit a Moniepoint office near them.
With its seamless technology and customer-first approach, Moniepoint continues to redefine financial inclusion across the continent.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
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