Moniepoint Inc., the African financial technology company, has secured an additional $90 million to extend its Series C funding round to a total of $200 million.
This new capital solidify Moniepoint’s status as a unicorn-level fintech, with a valuation comfortably above $1 billion.
The fresh investment was led by Development Partners International (DPI) through its African Development Partners III fund, alongside participation from global and regional investors such as LeapFrog Investments, Lightrock, Verod Capital, Google’s Africa Investment Fund, Visa Inc., the International Finance Corporation (IFC), Proparco, and Swedfund.
Expanding Financial Access Across Africa
Moniepoint says the new funds will help the company grow beyond Nigeria into new markets, including Kenya and the United Kingdom. The fintech plans to enhance its full-service platform, which already provides millions of businesses with tools for payments, credit, digital banking, and business management.
“Our goal has always been to help entrepreneurs and everyday people gain access to simple, reliable financial services,” said Tosin Eniolorunda, Moniepoint’s CEO and co-founder. “This investment gives us the resources to move faster and build more solutions that truly make a difference in people’s lives.”
Strengthening Global Partnerships
This latest round builds on Moniepoint’s earlier $110 million raise in late 2024, which attracted support from Visa and Google. Both organisations have since expanded their partnerships with Moniepoint to advance digital payments and develop contactless technology that makes transactions safer and faster across Africa.
Proven Growth and Impact
Moniepoint currently processes over 800 million transactions every month, with total transaction values exceeding $17 billion. The company’s digital banking platform and widespread agent network have made it a household name in Nigeria and a rising force in Africa’s digital economy.
In recognition of its impact, the Financial Times has listed Moniepoint among Africa’s fastest-growing companies for three consecutive years.
Looking Ahead
With the new $90 million injection, Moniepoint plans to broaden credit access for small and medium-sized businesses and roll out new digital products aimed at underserved communities. The funding marks another major milestone in the company’s journey to make financial inclusion a reality for millions across the continent.
