Nigerian fintech unicorn Moniepoint Inc. has secured an additional $90 million in funding, completing its $200 million Series C round to accelerate growth across Africa and expand into the United Kingdom and Kenya.
The funding round attracted heavyweight investors including Visa Inc., Development Partners International (DPI), LeapFrog Investments, and Alphabet Inc.’s Google Africa Investment Fund, signaling continued confidence in Africa’s fintech growth story.
Moniepoint’s Senior Vice President, Ross Strike, confirmed the new raise, noting the growing global investor appetite for African financial technology. “We have seen more interest coming slowly from global investors, especially those that have seen other emerging markets, willing to underwrite the African growth story,” Strike said in an interview.
According to the company, the new capital injection will be used to strengthen Moniepoint’s operations in Nigeria, its core market, while fueling new market entries in the UK and Kenya.
“The proceeds of the round will be used to power the Company’s next phase of growth, enhancing its capacity to help African businesses and individuals realise their financial dreams and accelerating Moniepoint’s continued expansion across the continent and into international markets,” the fintech said in a statement.
Although the exact valuation was not disclosed, the company is now valued at over $1 billion, reaffirming its unicorn status. This new round builds on the $110 million Moniepoint raised in 2024, also part of its Series C, led by DPI’s African Development Partners III fund and supported by Google’s Africa Investment Fund, Verod Capital, and existing investor Lightrock.
Founded in 2015 by Tosin Eniolorunda in Lagos, Moniepoint provides payment processing, banking, and remittance services to millions of users. The company now processes over $250 billion in annual transactions, underscoring its role as one of Africa’s most influential fintech platforms. It plans to operate in at least five African countries over the medium to long term, extending its mission of deepening financial inclusion across emerging markets.
Africa’s young, digital-savvy population continues to drive explosive fintech adoption, attracting billions of dollars in global investment. Nigerian startups such as Flutterwave, Interswitch, and Opay have achieved unicorn status, while mobility platform Moove is reportedly seeking to raise $300 million at a $2 billion valuation, reflecting the continent’s momentum in digital finance.
Commenting on the investment, Moniepoint’s Founder and Group CEO, Tosin Eniolorunda, said the company remains committed to empowering entrepreneurs across Africa. “That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions. 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,” he said.
Supporting this vision, Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at the International Finance Corporation (IFC), noted, “We look forward to supporting Moniepoint’s effort to increase the adoption of digital payments among MSME retailers in Nigeria, a segment underserved by banks and other traditional financial institutions.”
Moniepoint’s Series C funding underscores the accelerating global faith in Africa’s fintech ecosystem, driven by rising digital adoption and underserved financial markets.
The firm’s expansion into Kenya and the UK represents a strategic step toward global competitiveness while retaining a firm base in Nigeria’s fintech revolution.
With its new war chest, Moniepoint appears poised to deepen financial inclusion and extend its dominance as Africa’s leading digital financial services provider.