Moniepoint Reaches African Unicorn Status with $110 Million Funding Boost

Moniepoint Inc., Nigeria’s leading business banking platform, has officially reached unicorn status after securing a remarkable $110 million in equity financing, a major milestone that marks a new era for African fintech.

The funding round, which took place in 2025, positions Moniepoint among the continent’s elite group of startups valued at over $1 billion, reinforcing its dominance in financial services across Nigeria and beyond.

From Payment Infrastructure to Business Banking Powerhouse

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint originally known as TeamApt started with a mission to simplify payments and infrastructure for banks and financial institutions.

Over the years, the company has undergone a strategic evolution. Today, Moniepoint is Nigeria’s most trusted business banking provider, serving millions of small and medium-sized businesses with tailored financial tools and solutions.

Its platform now powers over 800 million transactions per month, with a monthly transaction value surpassing $17 billion, all while maintaining profitability, a rare feat in the African startup ecosystem.

Who Led the $110M Series C Investment?

Moniepoint’s Series C funding round was spearheaded by Development Partners International’s African Development Partners (ADP) III fund, a premier private equity fund focused on driving inclusive growth across the continent.

New investors in this round include:
• Google’s Africa Investment Fund
• Verod Capital, a top-tier African private equity firm

Additionally, Lightrock, a global impact investment firm and returning investor, also participated, reaffirming its commitment to Moniepoint’s mission.

This new capital injection not only validates Moniepoint’s market potential but also expands its access to global networks, impact capital, and top-tier strategic partners.

What the $110M Will Power

With this latest round of funding, Moniepoint is set to accelerate its pan-African expansion, enhancing its position as a one-stop shop for business solutions across the continent.

The company plans to build a fully integrated business platform offering:
• Digital payments
• Business banking
• Foreign exchange (FX) services
• Access to credit and financing tools
• Business management software and analytics

This will empower entrepreneurs and SMEs across Africa to manage their operations from a single platform, boosting productivity and financial inclusion at scale.

A Word from the Founder: Tosin Eniolorunda

Speaking on the milestone, Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said:

“Our mission is to help our customers solve their challenges by making our platform more innovative, transparent, and secure. The proceeds from this raise will speed up our efforts to drive financial inclusion and support Africa’s entrepreneurial potential.”

“I want to sincerely thank the entire Moniepoint team for making this achievement possible. We’ve been encouraged by the diversity and huge swathe of those who have found value in our platform and the services we provide in helping to create financial happiness. But, we’re just getting started, it’s just day one from here.”

Global Investor Confidence in Moniepoint

This funding round also saw new and existing blue-chip investors further cement their stake in Moniepoint’s journey. These include:
• QED Investors
• Novastar Ventures
• British International Investment
• Global Ventures
• Endeavor Catalyst
• New Voices Fund

Such robust investor backing highlights Moniepoint’s track record of execution, its scalability, and its resilience in a competitive fintech landscape.

Why This Matters for Africa’s Fintech Ecosystem

Moniepoint’s unicorn status is more than just a valuation milestone, it’s a validation of Africa’s potential to build globally competitive financial technology companies.

It represents a significant shift in how the world views African innovation, especially as investors seek growth opportunities in emerging markets.

With millions of underbanked and underserved businesses across Africa, Moniepoint’s model of digitally empowering SMEs aligns perfectly with the continent’s financial inclusion goals.