Nigerian fintech giant Moniepoint Inc. has raised an additional $90 million in funding to accelerate its expansion across Africa and into new markets, bringing its total Series C round to $200 million.
The round drew support from leading global investors, including Visa Inc., Development Partners International (DPI), LeapFrog Investments, and Alphabet’s Google Africa Investment Fund.
According to Moniepoint’s Senior Vice President, Ross Strike, the round reflects growing global confidence in Africa’s fintech potential.
“We have seen more interest coming slowly from global investors, especially those that have seen other emerging markets and are willing to underwrite the African growth story,” Strike said.
The funds will be used to strengthen Moniepoint’s core operations in Nigeria while advancing its expansion plans in the United Kingdom and Kenya. The company now processes over $250 billion in annual transactions and is valued at over $1 billion, though the exact figure remains undisclosed.
Moniepoint’s Founder and Group CEO, Tosin Eniolorunda, said the investment reinforces the company’s mission to drive financial inclusion across Africa.
“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,” he said.
Founded in 2015 in Lagos, Moniepoint offers payments, banking, and remittance services to millions of users. The company joins other Nigerian fintech unicorns such as Flutterwave, Interswitch, and Opay in expanding beyond Africa.
