Moniepoint bags $200m Series C to expand financial inclusion

October 21, 2025

Moniepoint, Africa’s all-in-one financial platform for businesses and their customers, has raised over $200m in equity financing through a Series C funding round.

The investment round was led by Development Partners International’s African Development (ADP) III fund, with significant participation from LeapFrog Investments.

Other investors included Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.

Moniepoint claims to be one of the few FinTechs globally and the first in Africa to achieve profitability at unicorn scale. It operates as Nigeria’s leading payments and digital banking platform. The company serves over 10 million active business and personal banking customers and processes more than $250bn in digital payments annually.

The fresh capital will fuel Moniepoint’s next phase of expansion, enhancing its ability to help African businesses and individuals reach their financial goals. The firm plans to accelerate its growth across the continent and further into global markets, continuing its mission to drive financial inclusion.

This funding milestone follows a period of significant innovation for Moniepoint, including the launch of MonieWorld—a remittance platform aimed at the African diaspora in the United Kingdom—and its integrated payment and bookkeeping solution for MSMEs.

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly TeamApt Inc.) has evolved from developing payment infrastructure for banks to becoming a comprehensive financial platform. It now provides services including digital payments, business and personal banking, credit, cross-border payments, and business management tools.

Moniepoint CEO Tosin Eniolorunda said, “This is a proud day for Moniepoint, and I extend my sincere gratitude to the entire team for their tireless work to make this possible. We founded the Company out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential. That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions.

“We will not rest on our laurels. 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.”

Development Partners International partner Adefolarin Ogunsanya said, “Since leading the first close of this landmark Series C, we have seen Moniepoint reach new heights – delivering innovation alongside sustained growth and profitability. DPI is proud to have anchored this round, reaffirming our conviction and support for the business and its leadership team.

“We continue to be impressed by Moniepoint’s powerful combination of commercial success and its impact on financial inclusion, and look forward to our continued partnership with Tosin and his team as they scale further in Nigeria, across Africa and beyond.”