Abuja, Nigeria – Moniepoint Group, a leading Nigerian fintech company, has announced a significant milestone in its mission to bring financial happiness to millions across Africa. The company has successfully raised $110 million in funding from a consortium of investors.
Investors
The funding round was led by Development Partners International (DPI), Google’s Africa Investment Fund, and Verod Capital Management, with participation from existing investors, including Lightrock.
Growth and Expansion
Moniepoint Group, founded in 2015 by Tosin Eniolorunda and Felix Ike, has grown from supporting Nigeria’s banking infrastructure to becoming the nation’s largest merchant acquirer, positively impacting two-thirds of Nigerian adults. This new funding will enable the company to:
- Expand its presence across Africa
- Enhance its products and services
- Strengthen its technology infrastructure
- Grow its team to serve entrepreneurs and business owners of every scale
Founder’s Statement
“We’re thrilled to welcome our new partners and grateful to our existing supporters,” said T Forow, Founder and Group CEO of Moniepoint. “This funding accelerates our pan-African vision, ensuring every African has access to reliable, empowering financial services. We’re eager to keep powering more dreams!”
About Moniepoint Group
Moniepoint Group is a Nigerian fintech company providing financial services to entrepreneurs, businesses, and individuals. Its mission is to bring financial happiness to millions across Africa.