Nigerian fintech firm Moniepoint Inc. has secured over $200 million in Series C funding to accelerate its expansion across Africa and other emerging markets. The funding round, led by Development Partners International (DPI) with participation from LeapFrog Investments, Visa, Google’s Africa Investment Fund, and the International Finance Corporation (IFC), marks one of the largest equity raises by an African fintech company this year.
The investment underscores growing global confidence in Moniepoint’s mission to deepen financial inclusion and strengthen digital payment infrastructure across the continent.
“This is a proud day for Moniepoint,” said Tosin Eniolorunda, the company’s co-founder and Chief Executive Officer. “We founded the company to widen financial inclusion and help African entrepreneurs realise their potential. This funding will help us accelerate that mission.”
Founded in 2015 as TeamApt, Moniepoint has evolved into Nigeria’s largest business banking platform, serving over 10 million active users and processing more than $250 billion in annual transaction value. The company’s ability to remain profitable at scale distinguishes it in the global fintech landscape.
The new investment follows several recent innovations, including MonieWorld, a remittance platform targeting the African diaspora in Britain, and a bookkeeping tool for micro and small enterprises.
Adefolarin Ogunsanya, a partner at DPI, said the investment underscores confidence in Moniepoint’s sustained growth and impact. “Moniepoint continues to deliver innovation alongside sustained profitability. We’re proud to support its next phase of growth.”
LeapFrog Investments’ Karima Ola also noted that the partnership aligns with the firm’s commitment to building inclusive financial infrastructure across Africa.
Other participants in the round included Lightrock, Alder Tree Investments, Proparco, Swedfund, and Verod Capital Management, while Financial Technology Partners served as the exclusive adviser to Moniepoint.
