Nigeria’s leading fintech company, Moniepoint Inc., has raised $200 million in a Series C funding round to deepen financial inclusion and expand its digital banking services across Africa. The round was led by Development Partners International (DPI) and LeapFrog Investments, with participation from Google’s Africa Investment Fund, Visa Inc., and the International Finance Corporation (IFC), as reported by Vanguard Nigeria.
Founded in 2015, Moniepoint has become one of Africa’s fastest-growing financial technology firms, serving more than 10 million active customers and processing over $250 billion in annual transactions, BusinessDay reported. The company said the new capital will be used to scale its payment infrastructure, enhance SME-focused digital solutions, and accelerate expansion into key markets in East and Southern Africa.
Moniepoint’s Chief Executive Officer, Tosin Eniolorunda, said the investment underscores the company’s mission to democratize financial access across the continent. “We founded Moniepoint to empower African entrepreneurs and small businesses to thrive in a digital economy. This funding allows us to deepen that commitment and reach even more communities,” he said, as quoted by The Whistler.
Industry experts view the deal as a strong endorsement of Africa’s maturing fintech ecosystem. With global investors showing renewed confidence in Nigeria’s digital economy, analysts say Moniepoint’s successful scale-up could serve as a blueprint for fintech innovation across the continent. BusinessPost noted that the funding reflects growing investor appetite for sustainable, high-growth African fintech models.
