Many small and medium-sized enterprises (MSMEs) throughout Africa, particularly in Nigeria, lack reasonably priced and dependable monetary providers. Conventional banks typically overlook these companies as a result of they require collateral or sturdy credit score histories that many MSMEs, significantly casual ones, can not present.
Moniepoint addresses this by providing a digital platform that mixes funds, banking, credit score, and enterprise administration instruments, enabling MSMEs to handle transactions, develop their operations, and make use of others.
At present, Moniepoint raised over $200 million in a Sequence C funding spherical, beginning with $110 million in 2024 and including one other $90 million in 2025. The spherical was led by Improvement Companions Worldwide’s African Improvement Companions III fund and featured Google’s Africa Funding Fund, Visa, LeapFrog Investments, and the International Finance Corporation (IFC).
Further traders embrace Lightrock, Alder Tree Investments, Proparco, Swedfund, Verod Capital Administration, QED Traders, Novastar Ventures, FMO, British Worldwide Funding, International Ventures, Endeavor Catalyst, and the New Voices Fund.
Based in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint emerged from a ardour to enhance monetary inclusion and help African entrepreneurs. Its founders’ expertise in funds infrastructure helped sort out Africa’s distinctive monetary challenges. At present, Moniepoint helps companies and people obtain monetary success by means of inclusive, progressive providers.
Moniepoint processes over $250 billion yearly and serves greater than 10 million lively clients. It stands out for its skill to deal with excessive transaction volumes and supply dependable infrastructure and complete enterprise administration instruments tailor-made to African MSMEs.
Not like opponents similar to Flutterwave, Paystack (owned by Stripe), TymeBank, and Chipper Money, Moniepoint has achieved profitability at unicorn scale by specializing in sustainable development, deep buyer relationships, and a diversified product lineup concentrating on underbanked segments.
Trying ahead, Moniepoint’s enlargement contains launching MonieWorld, a digital remittance platform for the African diaspora within the UK and Europe. Strategic acquisition of Bancom Europe provides Moniepoint FCA-regulated UK licenses passported throughout the European Financial Space, enabling broader European market entry.
Regardless of incurring a $1.2 million loss associated to UK startup prices, administration views it as crucial for long-term development. Moniepoint can also be investing in its London workplace, setting the stage for worldwide scaling.
