Moniepoint Raises Additional $90M, Expands Series C to $200M

Tosin Eniolorunda, Moniepoint Founder and CEO

Moniepoint Inc., a Nigerian fintech firm, has secured an additional $90 million in funding, bringing its Series C round to a total of $200 million as it accelerates expansion across Africa and into international markets.

The fresh capital — backed by Visa Inc., LeapFrog Investments, Development Partners International (DPI), and Alphabet Inc.’s Google Africa Investment Fund — will be used to reinforce Moniepoint’s operations in Nigeria, Kenya and the United Kingdom, and its other pan-African efforts.

Founded in 2015 in Lagos, Moniepoint provides banking, payments, and remittance services to small businesses and individuals. The firm processes more than $250 billion in annual transactions and plans to expand its footprint to at least five African countries over the medium term.

“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,” said Tosin Eniolorunda, founder and chief executive officer.

While Moniepoint declined to disclose its current valuation, the company surpassed $1 billion following the initial $110 million raised in 2024. That round was led by DPI’s African Development Partners III fund, with participation from Google, Verod Capital, and impact investor Lightrock.

Moniepoint joins a growing cohort of Nigerian fintech unicorns — including Flutterwave, Interswitch, and Opay — that have attracted substantial global investment as Africa’s digital economy continues to scale.

Source: TechMoran