Nigeria’s fast-growing fintech company, Moniepoint Inc., is scaling up its ambitions after securing an additional $90 million in fresh capital, bringing its Series C funding round to a total of $200 million. The new investment, backed by global heavyweights including Visa Inc., Development Partners International (DPI), LeapFrog Investments, and Google’s Africa Investment Fund, underscores the growing confidence of international investors in Africa’s fintech ecosystem.
Speaking on the development, Ross Strike, Senior Vice President at Moniepoint, said the latest funding marks a significant milestone in the company’s growth journey and highlights the steady rise of global interest in African digital finance.
“We have seen more interest coming slowly from global investors, especially those that have seen other emerging markets and are now willing to underwrite the African growth story,” Strike noted.
Powering a new phase of expansion
Moniepoint said the new capital will be channelled toward strengthening its Nigerian operations while supporting planned entries into the United Kingdom and Kenya.
“The proceeds of the round will power the company’s next phase of growth, enhance its capacity to help African businesses and individuals realise their financial dreams, and accelerate Moniepoint’s expansion across the continent and into international markets,” the company said in a statement.
While Moniepoint’s exact valuation remains undisclosed, Strike confirmed that the company is now valued above $1 billion, reaffirming its position as one of Africa’s leading fintech unicorns. The round builds on the $110 million raised in 2024.
Founded in 2015 by Tosin Eniolorunda in Lagos, Moniepoint has grown from a small payment processor into a multi-service fintech platform offering payments, banking, and remittance solutions to millions of individuals and small businesses. The company currently processes over $250 billion in annual transactions and plans to operate in at least five African countries in the medium term.
Riding Africa’s fintech wave
Moniepoint’s rise mirrors the broader boom in Africa’s fintech sector, where a young, digital-savvy population is fuelling rapid adoption of digital financial services. Nigeria remains the continent’s fintech powerhouse, home to several billion-dollar startups, including Flutterwave, Interswitch, and OPay, while Moove, a mobility startup backed by Uber, is reportedly eyeing a $2 billion valuation in its next funding round.
“Financial happiness for Africans everywhere”
Commenting on the company’s vision, Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said the new investment will help the company expand its mission of financial inclusion and empower entrepreneurs across the continent.
“Moniepoint was founded out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential,” he said. “That same passion drives the work we do today, and it is heartening to know it is shared by leading global institutions. 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.”
Investor confidence in Africa’s digital economy
Institutional investors have also expressed optimism about Moniepoint’s impact. Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at the International Finance Corporation (IFC), said the organisation is eager to support the company’s efforts to extend digital payments to underserved micro, small, and medium enterprises (MSMEs) across Nigeria.
Moniepoint’s Series C was led by Development Partners International’s African Development Partners (ADP) III Fund, with participation from Google’s Africa Investment Fund, Verod Capital, and existing investor Lightrock.
The company’s growing global footprint and sustained investor backing position it at the forefront of Africa’s next wave of fintech growth — one increasingly defined by cross-border expansion, inclusive finance, and international partnerships.