Nigerian fintech powerhouse Moniepoint has secured an additional $90 million in funding, completing its $200 million Series C round. The new capital cements the company’s position as one of Africa’s most valuable fintech firms, now valued at over $1 billion.
The round attracted investments from major global backers including Visa, the Google Africa Investment Fund, Development Partners International (DPI), LeapFrog Investments, and the International Finance Corporation (IFC).
Moniepoint plans to use the new funds to deepen its presence in Nigeria, its core market, while also driving expansion into the United Kingdom and Kenya. The company will also continue to scale its technology infrastructure and roll out innovative products for both businesses and individuals.
“This milestone underscores investors’ confidence in our mission to power financial inclusion across Africa and beyond,” said Tosin Eniolorunda, CEO of Moniepoint. “We’re building not just a payments solution, but a complete ecosystem for growth-minded entrepreneurs.”
The additional $90 million follows the first tranche of $110 million raised in October 2024, bringing the total Series C funding to $200 million.
Since its founding in 2015, Moniepoint has evolved from a payment processing platform into a full-fledged financial services provider, offering digital banking, credit, and business management solutions. The company now processes over $250 billion in annual transactions, serving millions of small and medium-sized enterprises (SMEs) across Nigeria.
Industry experts say Moniepoint’s funding success reflects strong investor confidence in Africa’s fintech ecosystem, even amid a global slowdown in venture capital investment.
With this round, Moniepoint joins the ranks of African unicorns, marking a new milestone for Nigeria’s fintech innovation and the continent’s growing influence in global digital finance.
