Moniepoint Inc.

Moniepoint Inc. is a Nigerian financial-technology company headquartered in Lagos. The business was founded in 2015 by Tosin Eniolorunda and Felix Ike under the name TeamApt, initially focusing on financial infrastructure and services for businesses. It later adopted the Moniepoint name as its principal consumer-facing and corporate identity. The company operates in Nigeria, where it provides digital payment and banking services through online applications and related infrastructure. The company’s activities span business payments, digital banking, payment acceptance, transaction services, and lending. Its platforms are intended to help small and medium-sized businesses receive and make payments, manage business finances, access banking services, and obtain credit linked to transaction activity. Moniepoint has also developed personal banking services, broadening its scope beyond merchant and business finance. Its subsidiary, Moniepoint Microfinance Bank, is regulated by the Central Bank of Nigeria; the reference material reports that the subsidiary’s operating licence was upgraded to national status in January 2026. Moniepoint’s expansion has been supported by several rounds of venture financing. In 2019, it announced a US$5.5 million Series A round led by Quantum Capital Partners and obtained a switching licence from the Central Bank of Nigeria. The company announced further financing in 2021, including a Series B round led by Novastar Ventures and US$50 million in pre-Series C funding led by QED Investors. In March 2023, it led a US$3 million seed round for Nigerian neobank Payday, demonstrating an interest in supporting adjacent fintech businesses as well as expanding its own platform. In October 2024, Moniepoint announced a US$110 million Series C financing round led by Development Partners International’s African Development Partners III fund and Google’s Africa Investment Fund, with participation from Lightrock. The financing valued the company at more than US$1 billion and made it, according to the supplied reference material, the eighth African unicorn. In 2025, the company announced an extension of that Series C round, adding US$90 million and bringing total Series C proceeds to more than US$200 million. The company presents itself as an enabler of financial inclusion and business formalisation in Nigeria. Its operating model connects digital payments with financial-management tools and credit, while its reports and programmes address sectors such as food service and technology education. Moniepoint has reported that digital payment infrastructure can improve settlement speed, payment verification, and access to transaction-based lending for Nigerian food-service businesses. It has also invested in skills initiatives, including DreamDevs, HatchDev, Women in Tech, and participation in the 3MTT programme. The available materials do not establish a public listing, a corporate parent, or a website for the company, so those fields remain unspecified.

Moniepoint began in 2015 as TeamApt, founded by Tosin Eniolorunda and Felix Ike. The company was created in Nigeria during a period in which digital financial services were expanding rapidly, but many businesses still faced difficulties with payment acceptance, reliable settlement, and access to formal financial products. Its initial work centred on financial technology and infrastructure, later developing into a broader platform for business banking, payments, and credit. A significant regulatory milestone came in November 2019, when the Central Bank of Nigeria granted the company a switching licence. This strengthened its position in the payments ecosystem and supported the development of services connecting merchants, businesses, and digital financial channels. Earlier that year, the company had announced a US$5.5 million Series A financing from Quantum Capital Partners. Moniepoint continued to raise institutional capital as it expanded. In 2021, it announced a Series B round led by Novastar Ventures, although the amount was not disclosed in the supplied material. It also raised US$50 million in pre-Series C funding led by QED Investors. These financings supported the company’s growth in business banking, payments, and lending and helped it broaden the range of services offered through its platform. The company’s strategy also included investment in the wider fintech ecosystem. In March 2023, Moniepoint led a US$3 million seed round for Payday, a Nigerian neobank. In July of the same year, it launched a personal banking service, giving the brand a direct offering for individual customers in addition to its established business orientation. The expansion reflected a move toward a more comprehensive financial-services model rather than a narrowly defined payment-processing business. Moniepoint attracted further recognition in 2023 when the Financial Times listed it as Africa’s second-fastest-growing company. In October 2024, it announced a US$110 million Series C round led by Development Partners International’s African Development Partners III fund and Google’s Africa Investment Fund, with Lightrock also participating. The financing valued the company at more than US$1 billion, making it, according to the supplied reference material, the eighth African unicorn. In November 2024, Bayo Olujobi became chief financial officer. In 2025, Moniepoint announced a further US$90 million extension to its Series C financing, taking the total for that round above US$200 million. The company also published analysis of Nigeria’s food-service economy, emphasising the role of digital payment infrastructure, immediate settlement, automated payment confirmation, and transaction-linked lending in helping businesses operate and grow. The supplied material describes continued institutional and social-impact activity in 2026. Moniepoint Microfinance Bank reportedly received an upgrade of its Central Bank of Nigeria operating licence to national status. The company also worked with Google and Women Techmakers Lagos on the Break the Pattern workshop for young women interested in technology and artificial intelligence. Its DreamDevs Bootcamp graduated a second cohort through a nine-week programme aimed at improving software-engineering capability. Other cited talent initiatives include Women in Tech, HatchDev, and participation in the 3MTT programme. The available references do not establish a public listing, a parent company, or operations outside Nigeria.

• 2026

  Microfinance-bank licence upgrade

  [1]Moniepoint Inc.en.wikipedia.org

  Moniepoint Microfinance Bank was reported to have received a national-status operating licence from the Central Bank of Nigeria.

• 2025

  Series C extension

  [1]Moniepoint Inc.en.wikipedia.org

  The company announced an additional US$90 million, bringing total Series C funding above US$200 million.

• 2024

  Series C financing and unicorn valuation

  [1]Moniepoint Inc.en.wikipedia.org

  A US$110 million Series C round valued the company above US$1 billion.

• 2023

  Personal banking launches

  [1]Moniepoint Inc.en.wikipedia.org

  Moniepoint introduced a personal banking service.

• 2021

  Series B and pre-Series C financing

  [1]Moniepoint Inc.en.wikipedia.org

  Moniepoint announced a Series B round led by Novastar Ventures and US$50 million in pre-Series C funding led by QED Investors.

• 2019

  Series A financing

  [1]Moniepoint Inc.en.wikipedia.org

  The company announced US$5.5 million in Series A funding from Quantum Capital Partners.

• 2019

  Switching licence obtained

  [1]Moniepoint Inc.en.wikipedia.org

  The Central Bank of Nigeria granted the company a switching licence.

• 2015

  TeamApt is founded

  [1]Moniepoint Inc.en.wikipedia.org

  Tosin Eniolorunda and Felix Ike founded the company under the name TeamApt in Nigeria.

A Nigerian fintech platform focused on financial inclusion and the everyday banking, payment, and credit needs of businesses and individuals.

• Business banking and payments

  Moniepoint Business Banking and Payments

  Moniepoint’s core business platform supports payment acceptance, transaction processing, business banking, and financial-management activities for Nigerian merchants and enterprises. The broader proposition links payment infrastructure with tools intended to help businesses monitor activity, settle funds, and access additional financial services. The supplied references do not provide a complete product catalogue or detailed technical specifications.

• Personal digital banking · 2023

  Moniepoint Personal Banking

  Launched in July 2023, Moniepoint’s personal banking service extended the company’s reach from business and merchant finance to individual customers. It is described as an online banking service, but the available material does not specify the full account, card, transfer, or savings features offered.

• Microfinance banking

  Moniepoint Microfinance Bank

  Moniepoint Microfinance Bank is the company’s banking subsidiary and operates under Central Bank of Nigeria licensing. The supplied reference reports that its operating licence was upgraded to national status in January 2026, expanding the described regulatory scope of its banking operations.

• Digital lending

  Business lending

  Moniepoint provides lending and credit services associated with business financial activity. Company materials cited in the references identify transaction-based lending as a mechanism that can improve access to finance for operating businesses, although the available sources do not specify loan products, eligibility criteria, or pricing.

• 2026Break the Pattern

  Nigeria

  Moniepoint partnered with Google and Women Techmakers Lagos on a workshop for young Nigerian women covering practical technology and artificial-intelligence skills, leadership, and a Buildathon.

  Outcome. The supplied material describes the programme and its training objectives but does not report a quantified outcome.

  Source
• 2026DreamDevs Bootcamp

  Nigeria

  Moniepoint’s nine-week DreamDevs programme provided software-development training, mentorship, and practical experience, with the second cohort graduating in 2026.

  Outcome. The second cohort graduated; the available material does not provide participant numbers or subsequent employment results.

  Source

• 2026

  Upgrade banking licence statusOther

  Background

  Moniepoint’s banking subsidiary sought a broader operating authorisation within Nigeria’s regulated financial system.

  Action taken

  The Central Bank of Nigeria reportedly upgraded Moniepoint Microfinance Bank’s operating licence to national status.

  Aftermath

  The reported upgrade expanded the subsidiary’s authorised national banking scope; detailed operational consequences are not provided in the supplied material.

  Source

• 2025

  Extend Series C financingStrategy

  Background

  The company continued fundraising after its 2024 Series C round as it expanded its financial-services business.

  Action taken

  Moniepoint announced an additional US$90 million, taking aggregate Series C proceeds above US$200 million.

  Aftermath

  The additional capital increased the resources available for growth, but the supplied material does not identify specific allocation or operating results.

  Total Series C funding. US$110 million announced in 2024 → More than US$200 million after the 2025 extension (2025)

  Source

• 2024

  Scale through Series C financingStrategy

  Background

  Moniepoint sought additional capital to expand its fintech and financial-services platform in Nigeria.

  Action taken

  The company raised US$110 million in Series C funding led by Development Partners International’s African Development Partners III fund and Google’s Africa Investment Fund, with Lightrock participating.

  Aftermath

  The financing valued Moniepoint above US$1 billion and established it as an African fintech unicorn according to the supplied reference material.

  Series C financing. US$110 million announced in the round → Valuation above US$1 billion (October 2024)

  Source

• 2023

  Enter personal bankingProduct launch

  Background

  Moniepoint had developed its position around business payments and financial services but sought to serve individual customers as well.

  Action taken

  The company launched a personal banking service in July 2023.

  Aftermath

  The launch broadened the brand’s stated customer reach, although the supplied sources do not quantify adoption or revenue effects.

  Source

• 2026

  Moniepoint Microfinance Bank receives national-status licence upgrade[1]Moniepoint Inc.en.wikipedia.org

  Regulation

  The Central Bank of Nigeria reportedly upgraded the operating licence of Moniepoint Microfinance Bank to national status.

• 2026

  Moniepoint and partners host Break the Pattern workshop[1]Moniepoint Inc.en.wikipedia.org

  Campaign

  Moniepoint, Google, and Women Techmakers Lagos hosted a programme combining technology and artificial-intelligence training, a Buildathon, and leadership sessions for young Nigerian women.

• 2026

  Moniepoint graduates second DreamDevs cohort[1]Moniepoint Inc.en.wikipedia.org

  Other

  The second cohort of the company’s nine-week DreamDevs Bootcamp completed training designed to build software-engineering skills for enterprise roles.

• 2025

  Moniepoint extends Series C financing[1]Moniepoint Inc.en.wikipedia.org

  Other

  The company announced an additional US$90 million, taking total Series C funding above US$200 million.

• 2025

  Moniepoint reports on digital payments and Nigeria’s food-service sector[1]Moniepoint Inc.en.wikipedia.org

  Other

  A company report examined how instant settlement, automated payment verification, and transaction-based lending could support efficiency and growth in Nigerian food service.

• 2024

  Moniepoint becomes an African unicorn[1]Moniepoint Inc.en.wikipedia.org

  Other

  A US$110 million Series C round valued Moniepoint at more than US$1 billion and made it one of Africa’s privately valued fintech unicorns.

• 2024

  Bayo Olujobi appointed chief financial officer[1]Moniepoint Inc.en.wikipedia.org

  Leadership change

  Bayo Olujobi was appointed Moniepoint’s chief financial officer in November 2024.

• 2023

  Moniepoint launches personal banking service[1]Moniepoint Inc.en.wikipedia.org

  Product launch

  The company introduced a personal banking offering, extending its services beyond business and merchant finance.

• 2023

  Moniepoint leads seed investment in Payday[1]Moniepoint Inc.en.wikipedia.org

  M&A

  Moniepoint led a US$3 million seed investment round for Nigerian neobank Payday.

• 2019

  Moniepoint announces Series A funding[1]Moniepoint Inc.en.wikipedia.org

  Other

  The company announced a US$5.5 million Series A financing round from Quantum Capital Partners.

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1. 1Moniepoint Inc.en.wikipedia.org