Moniepoint Inc. secured over US$200 million in a Series C funding round led by Development Partners International and LeapFrog Investments to expand its financial services across Africa and enhance financial inclusion for MSMEs.

Information on the Target

Moniepoint Inc. (formerly TeamApt Inc.) is an innovative financial platform for businesses and their customers in Africa. Founded in 2015 by Tosin Eniolorunda and Felix Ike, the company is recognized as Nigeria's leading payments and digital banking provider. With a customer base exceeding 10 million active users, Moniepoint has established itself as a trusted partner for micro, small, and medium-sized enterprises (MSMEs) across the country. The company has achieved profitability at a unicorn scale and is dedicated to driving financial inclusion and empowering African entrepreneurs to realize their financial dreams.

Recently, Moniepoint successfully raised over US$200 million in a Series C funding round, led by Development Partners International and supported by LeapFrog Investments and various other notable investors. This significant capital injection reflects the company's impressive growth trajectory and emphasizes its commitment to expanding financial services within the African continent and globally.

Industry Overview in Nigeria

Nigeria's fintech industry is a rapidly evolving sector that plays a critical role in the overall economy. As one of the largest economies in Africa, Nigeria has seen a surge in digital financial solutions driv