The Series C financing, which also included LeapFrog Investments, Visa, Google\u2019s Africa Investment Fund, and the International Finance Corporation, is one of the largest equity fundraisings by an African fintech this year.<\/p>\n
<\/p>\n
Moniepoint, formerly known as TeamApt, said the funds would support its expansion into new markets and enhance its offerings for small and medium-sized enterprises, which form the backbone of Africa\u2019s informal economy.<\/p>\n
<\/p>\n
\u201cThis is a proud day for Moniepoint,\u201d said Tosin Eniolorunda, the company\u2019s Co-Founder and Chief Executive Officer. \u201cWe founded the company to widen financial inclusion and help African entrepreneurs realise their potential. This funding will help us accelerate that mission.\u201d<\/p>\n
<\/p>\n
Founded in 2015, Moniepoint has grown into Nigeria\u2019s largest business banking platform, serving over 10 million active users and processing more than $250 billion in annual transaction value. The company has remained profitable at scale, a rare feat among global fintechs.<\/p>\n
<\/p>\n
The funding follows a string of product launches, including MonieWorld, a remittance platform targeting the African diaspora in Britain, and a bookkeeping tool for micro and small businesses.<\/p>\n
<\/p>\n
DPI, which led the first close of the round in 2024, said Moniepoint\u2019s combination of growth and impact made it a standout investment.<\/p>\n
\u201cMoniepoint continues to deliver innovation alongside sustained profitability,\u201d said DPI partner Adefolarin Ogunsanya. \u201cWe\u2019re proud to support its next phase of growth.\u201d<\/p>\n
<\/p>\n
LeapFrog\u2019s Karima Ola said the investment aligned with the firm\u2019s vision of building inclusive financial infrastructure across Africa.<\/p>\n
<\/p>\n
Lightrock, Alder Tree Investments, Proparco, Swedfund, and Verod Capital Management also participated in the funding round. Financial Technology Partners acted as the exclusive adviser to Moniepoint.<\/p>\n
<\/p>\n
–Reuters–<\/p>\n","protected":false},"featured_media":13195,"template":"default||default","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-13194","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Nigerian fintech firm Moniepoint Inc. said on Tuesday it had raised more than $200 million in a funding round led by Development Partners International, as it seeks to expand its digital financial services across Africa and beyond.||Nigerian fintech firm Moniepoint Inc. said on Tuesday it had raised more than $200 million in a funding round led by Development Partners International, as it seeks to expand its digital financial services across Africa and beyond.","published_date":null,"news_description":"Nigerian fintech firm Moniepoint Inc. said on Tuesday it had raised more than $200 million in a funding round led by Development Partners International, as it seeks to expand its digital financial services across Africa and beyond.||Nigerian fintech firm Moniepoint Inc. said on Tuesday it had raised more than $200 million in a funding round led by Development Partners International, as it seeks to expand its digital financial services across Africa and beyond.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/13194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/13194\/revisions"}],"predecessor-version":[{"id":18429,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/13194\/revisions\/18429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/13195"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=13194"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=13194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}