By 
Moniepoint has closed an additional $90 million in funding to complete its Series C round, bringing the total to $200 million following an initial $110 million raise in 2024. The milestone further solidifies the Nigerian-born fintech as one of Africa’s leading unicorns, reflecting sustained investor confidence in the continent’s rapidly expanding digital finance ecosystem.
The round was led by Development Partners International (DPI), with participation from International Finance Corporation (IFC), Leapfrog Investments, Google’s Africa Investment Fund, and Visa. Moniepoint stated that the fresh capital will accelerate its pan-African expansion and bolster its growing international presence.
“We will not rest on our laurels. The proceeds from our landmark Series C will be deployed judiciously to create even greater impact as we advance Moniepoint’s mission of delivering financial happiness to Africans everywhere,” said Tosin Eniolorunda, Moniepoint’s co-founder and CEO.
Visa’s participation extends its increasing involvement in Africa’s fintech ecosystem. The global payments leader has previously invested in firms such as Interswitch, Paystack, and Flutterwave, while also launching a fintech accelerator programme to support innovative startups across the continent. Likewise, Google’s Africa Investment Fund continues to signal Big Tech’s growing interest in the region’s financial inclusion and digital payments landscape.
Although Moniepoint has not disclosed its latest valuation, the company confirmed that the Series C round firmly positions it above the $1 billion mark, a milestone it first achieved in 2024.
Founded as a software solutions provider for Nigerian banks, Moniepoint has evolved into a fintech powerhouse with a vast agency banking network serving millions of unbanked and underbanked Nigerians. The company now serves more than 10 million personal and business customers and processes over $250 billion in transactions annually.
Building on its success, Moniepoint has diversified its services through its microfinance bank licence, offering a comprehensive range of digital banking products for individuals and SMEs. The company also began expanding globally, launching operations in the United Kingdom to cater to Africans in the diaspora.
Despite reporting a $1.2 million loss earlier this month due to early operational expenses from its UK rollout, analysts view the setback as temporary, citing Moniepoint’s strong profitability in its African markets.
The latest funding round cements Moniepoint’s status as one of Africa’s most valuable fintech companies and highlights the intensifying global interest in Africa’s digital finance revolution — with major players like Visa, Google, and IFC deepening their commitments to the continent’s fintech future.
Comments