Moniepoint has announced the successful completion of its Series C funding round at a total of US$200 million comprising an initial US$110 million tranche in October 2024 and a fresh US$90 million raise in October 2025.
Funding Breakdown & Investors
The initial US$110 million tranche was led by Development Partners International (DPI) through its African Development (ADP) III fund, with participation from Google Africa Investment Fund, Verod Capital Management, and Lightrock.
The new US$90 million infusion was also led by DPI, with new investors joining: LeapFrog Investments (an impact-focused investor), Alder Tree Investments, Visa Inc., International Finance Corporation (IFC), Proparco, and Swedfund. Returning investors—including Google’s Africa Investment Fund, Verod Capital, and Lightrock—also participated, underscoring continued confidence in Moniepoint’s growth strategy and mission.
What the Funding Enables
Moniepoint plans to use the fresh capital to:
- Accelerate expansion across Africa and into international markets.
- Enhance its offerings in digital payments, business and personal banking, credit, and business management services.
- Deepen penetration among micro, small, and medium-sized enterprises (MSMEs) that remain underserved by traditional financial institutions.
Company Profile & Market Position
Founded in 2015 by Tosin Eniolorunda (Group CEO) and Felix Ike (CTO), Moniepoint began as a payment-infrastructure provider and has evolved into a comprehensive fintech platform offering agent banking, digital business banking, remittances, and credit solutions.
Key operational highlights include:
- Serving over 10 million business and retail customers.
- Processing more than US$250 billion in digital payment transaction value annually.
- Attaining unicorn status (valuation above US$1 billion) following its 2024 raise.
Strategic Implications & Sector Context
The successful close of Moniepoint’s Series C funding round reflects several important trends:
- Growing investor confidence in African fintech: Despite global startup funding slowdowns, Moniepoint’s achievement demonstrates that robust, impact-driven African fintechs continue to attract international investment.
- Focus on financial inclusion: The company remains committed to reaching underserved segments, using agent networks and digital tools to extend financial access beyond urban areas.
- Expansion beyond Nigeria: While Nigeria remains Moniepoint’s core market, the company aims to scale across additional African markets—such as Kenya—and explore international opportunities, reflecting a broader ambition to be both a pan-African and global fintech player.
- Partnerships and ecosystem leverage: With support from major global brands like Visa and impact investors such as LeapFrog, Moniepoint’s funding round balances commercial growth with social impact, reinforcing its role in advancing Africa’s financial inclusion agenda.
Risks & Challenges
Despite strong investor backing, Moniepoint faces several potential challenges:
- Execution risks associated with entering new markets and navigating regulatory complexities.
- Increasing competition in Africa’s fintech landscape, particularly in payments, lending, and agency banking.
- Sustaining profitability across diverse markets while maintaining operational efficiency.
- Macro-economic and regulatory risks, including currency volatility and evolving government policies.
Looking Ahead
Armed with this new funding, Moniepoint is poised to:
- Expand its footprint across Africa and into select international territories.
- Deepen its product portfolio with enhanced credit solutions for small businesses, embedded banking, and cross-border payments.
- Strengthen partnerships with global players to improve infrastructure and service delivery.
- Continue building resilient systems to support agent networks and customer growth.
