Moniepoint Secures $200 Million Funding to Deepen Financial Inclusion and Power Africa’s Fintech Future
In a landmark move that reaffirms its dominance in Africa’s digital finance landscape, Moniepoint Inc. has raised $200 million in Series C funding, setting a new benchmark for sustainable fintech growth on the continent.
The fresh capital injection underscores global investors’ confidence in Moniepoint’s business model, profitability trajectory, and transformative impact on financial inclusion for small businesses and consumers across Africa.
A Bold Leap: Africa’s Profitable Unicorn Expands Its Reach
Unlike many fintechs still struggling to balance scale with sustainability, Moniepoint stands apart as one of the few profitable unicorns in global fintech, and notably the first in Africa to achieve profitability at scale.
The Series C round, which closed in October 2024 and has now been fully executed, was led by Development Partners International’s African Development (ADP) III fund, with strategic participation from LeapFrog Investments, Lightrock, Google’s Africa Investment Fund, Visa, the IFC, Proparco, Swedfund, Verod Capital, and other blue-chip partners.
Moniepoint said the proceeds will accelerate its next phase of growth, focusing on expanding product capabilities, scaling digital infrastructure, and deepening its footprint across Nigeria and emerging African markets.
Fueling Africa’s Financial Revolution
For Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., this milestone represents more than a fundraising achievement—it’s a reaffirmation of the company’s founding purpose: to democratize access to finance for African entrepreneurs.
“We founded Moniepoint out of a genuine passion to widen financial inclusion and help African entrepreneurs realize their potential,” Eniolorunda said.
“This new capital is not a finish line but a launchpad. Every dollar raised will be deployed judiciously to scale our mission of financial happiness for Africans everywhere.”
The company’s model—built on accessible financial tools for micro, small, and medium enterprises (MSMEs)—has become a pillar of Nigeria’s digital economy, with millions of merchants using Moniepoint terminals for payments, credit, bookkeeping, and daily operations.
Investors Bet Big on Africa’s Financial Inclusion Play
The participation of high-caliber investors signals a strong endorsement of Moniepoint’s commercial viability and social impact.
Adefolarin Ogunsanya, Partner at Development Partners International (DPI), highlighted the dual nature of Moniepoint’s success—sustained profitability paired with measurable inclusion outcomes.
“Moniepoint’s powerful combination of commercial success and social impact aligns perfectly with DPI’s philosophy,” Ogunsanya noted.
“We remain impressed by its leadership team and will continue to support its expansion across Africa’s fast-evolving fintech ecosystem.”
Karima Ola, Partner at LeapFrog Investments, emphasized Moniepoint’s role in empowering small businesses that form the backbone of Africa’s economy.
“MSMEs drive job creation and innovation across the continent, yet most lack access to formal credit or digital banking. Moniepoint has become an indispensable partner to these enterprises—offering trust, access, and digital empowerment at scale,” she said.
LeapFrog’s participation reflects its long-term commitment to building financial ecosystems that connect payment infrastructure, cross-border solutions, and SME credit access across Africa.
IFC and Global Partners See a Model for Emerging Markets
The International Finance Corporation (IFC), one of the world’s leading multilateral investors in emerging market businesses, also joined the round.
Farid Fezoua, IFC’s Global Director for Disruptive Technologies, commended Moniepoint’s practical approach to scaling digital finance in underserved segments.
“Moniepoint’s model of combining affordable point-of-sale devices with lending and business management tools directly addresses the liquidity and efficiency gaps faced by MSMEs,” Fezoua said.
“This kind of innovation is critical to deepening digital payment adoption in economies where cash remains dominant.”
Building a Digital Economy That Works for Everyone
At its core, Moniepoint’s growth story reflects a broader economic narrative: Africa’s transition from cash-driven markets to digitally empowered economies.
Its platform—integrating payments, lending, accounting, and compliance—has helped bridge the trust gap between informal businesses and the formal financial system.
According to Moniepoint’s recent Informal Economy Report 2025, nearly 79% of informal businesses reported higher operating costs due to inflation and logistics pressures. Yet, Moniepoint’s interventions—through affordable tools and flexible lending—have allowed many of these enterprises to remain resilient and profitable.
This unique positioning makes Moniepoint not just a fintech company, but a catalyst for inclusive growth, bridging the gap between technology, policy, and real-world commerce.
Financial Sustainability Meets Impact
Industry observers note that Moniepoint’s success story challenges the conventional narrative that African fintechs must “burn cash” to scale.
By balancing innovation with strong governance, profitability, and customer-centricity, Moniepoint has demonstrated that impact and income can co-exist—a model now studied by investors and policymakers alike.
Its profitability and institutional backing from global giants such as Visa and Google’s Africa Investment Fund signal confidence not just in the company, but in the future of Africa’s digital economy.
BRANDECONOMY Insight: A Blueprint for Fintech Maturity
Moniepoint’s $200 million raise is more than another headline—it’s a blueprint for fintech maturity in Africa.
It shows that the path to scale lies not in hype, but in unit economics, trust, and operational discipline.
By combining merchant-centered design with sustainable financial architecture, Moniepoint continues to shape what many call “the next generation of African banking.”
As the company enters its next growth phase, its focus will likely shift toward expanding across West, East, and Southern Africa, integrating AI-driven credit models, and supporting governments’ efforts toward cashless economies.
For Nigeria’s fintech sector, this is a defining moment—proof that homegrown innovation can compete globally while delivering measurable social and economic transformation.
