Moniepoint raises $200m Series C round led by DPI, LeapFrog to scale operations across Africa

Nigeria’s leading fintech platform, Moniepoint Inc, has raised $200 million in a Series C funding round to accelerate its expansion across Africa and deepen financial inclusion for millions of small businesses and individuals.

The latest round was led by Development Partners International’s (DPI) African Development (ADP) III fund and joined by LeapFrog Investments, one of the world’s top impact investors. Other major backers include Lightrock, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.

Moniepoint is one of the few fintechs globally, and the first in Africa, to achieve profitability at unicorn scale while driving financial inclusion. As Nigeria’s leading payments and digital banking platform, its customer base exceeds 10 million active businesses and personal banking customers, and processes over US$250 billion in digital payment transaction value annually.

The proceeds of the round will be used to power the Company’s next phase of growth, enhancing its capacity to help African businesses and individuals realise their financial dreams and accelerating Moniepoint’s continued expansion across the continent and into international markets.

The closure of the funding round marks a highly successful period featuring notable product launches, such as MonieWorld, a remittance solution targeting the African diaspora in the United Kingdom and the launch of its integrated payment and bookkeeping solution designed to simplify business operations for micro, small, and medium-sized enterprises (MSMEs).

Tosin Eniolorunda, founder and group CEO of Moniepoint Inc., said: “This is a proud day for Moniepoint, and I extend my sincere gratitude to the entire team for their tireless work to make this possible. We founded the Company out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential. That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions.

“We will not rest on our laurels. The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story – with financial happiness for Africans everywhere remaining our ultimate goal.”

Backing from global investors

Moniepoint’s Series C round marks one of Africa’s largest fintech fundraises in 2025 and extends a streak of strong investor confidence in the company’s profitable business model.

Adefolarin Ogunsanya, partner at Development Partners International, commented: “Since leading the first close of this landmark Series C, we have seen Moniepoint reach new heights – delivering innovation alongside sustained growth and profitability. DPI is proud to have anchored this round, reaffirming our conviction and support for the business and its leadership team. We continue to be impressed by Moniepoint’s powerful combination of commercial success and its impact on financial inclusion, and look forward to our continued partnership with Tosin and his team as they scale further in Nigeria, across Africa and beyond.”

Karima Ola, partner at LeapFrog Investments, added:

“MSMEs are the heartbeat of African economies – creating the majority of jobs and driving innovation. However, the vast majority have no access to digital banking and formal credit. Moniepoint has become an indispensable partner to MSMEs by empowering them with the digital tools and trust they need to transact, grow, and employ others at scale.

“At LeapFrog, our vision is to support the ongoing evolution of Africa’s financial infrastructure – where global digital payment ecosystems are well connected; cross-border payments are smooth, safe and affordable; and SMEs have seamless access to credit, digital payments, and the wider suite of financial tools they need to thrive. Our investment in Moniepoint epitomises that vision.”

Scaling inclusion through innovation

Founded in 2015 as TeamApt by Tosin Eniolorunda and Felix Ike, Moniepoint has grown from building payment infrastructure for banks into a full-service financial platform offering payments, digital banking, credit, cross-border remittances, and business management tools.

The company currently serves over 10 million active business and personal customers, processing more than $250 billion in digital transactions annually. Moniepoint says it is one of the few fintechs globally — and the first in Africa — to achieve profitability at unicorn scale.

In the past year, Moniepoint launched MonieWorld, a cross-border remittance solution targeting the African diaspora in the United Kingdom, and an integrated payment and bookkeeping platform designed to simplify operations for MSMEs.

A model for Africa’s fintech growth

The International Finance Corporation’s (IFC) Global Director for Disruptive Technologies, Farid Fezoua, described Moniepoint as a key player in digitising small business finance across Africa.

Farid Fezoua, global director for disruptive technologies, services, and funds at IFC, said: “IFC has extensive experience in investing in technology-driven startups that help businesses process and accept payments in emerging markets. We look forward to supporting Moniepoint’s effort to increase the adoption of digital payments among MSME retailers in Nigeria, a segment underserved by banks and other traditional financial institutions. Moniepoint provides competitively priced point-of-service devices, as well as a modern platform enabling MSMEs to access loans, bookkeeping, and several other offerings. This allows merchants to grow their business and create more jobs in a sector considered the backbone of Nigeria’s economy, where cash is still predominant.”

The Series C round adds to Moniepoint’s growing list of institutional investors, which already includes QED Investors, Novastar Ventures, FMO, British International Investment, Global Ventures, and Endeavor Catalyst.

Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint for the transaction.

With this funding, Moniepoint looks to strengthen its position as Africa’s most profitable fintech while expanding into new markets and building products that enable entrepreneurs to thrive in the digital economy.