Founded as TeamApt in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has matured into one of Africa’s fastest-growing fintechs, offering an integrated banking, credit, and payment ecosystem for SMEs.
The company powers digital payments, business banking, and credit, operating under a CBN-regulated microfinance bank that serves over 10 million individuals and businesses.
In October 2024, Moniepoint raised $110 million in Series C funding, led by Google’s Africa Investment Fund and Development Partners International, catapulting it to unicorn status with valuation above $1 billion.
The Financial Times has recognized Moniepoint as Africa’s second-fastest-growing company, and the firm processes over 800 million transactions monthly, worth more than $17 billion.
Its growth has been bolstered by simplicity-focused infrastructure and crisis-driven adoption, including during Nigeria’s currency redesign, when it offered accessible POS and agent banking services.
Moniepoint’s mission is “financial happiness for every African,” and its product breadth, from payments to FX to credit—underscores ambition and scale.
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