This Moniepoint company profile covers the company's valuation, revenue, funding rounds, investors and history. Moniepoint works in fintech, with a focus on business banking and payments in Africa. It was founded in 2015 and is headquartered in Lagos, Nigeria. Its latest valuation on record is Over US$1 billion (October 2024). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Series C total | More than US$200 million after a US$90 million extension | October 2025 | Techpoint Africa |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Oct 2025 | Series C extension | US$90M | Not disclosed | Investors including Visa | Techpoint Africa |
| Oct 2024 | Series C | US$110M | Over US$1B | Development Partners International (ADP III) and Google's Africa Investment Fund (co-leads); Lightrock | Wikipedia |
| 2022 | Pre-Series C | US$50M | Not disclosed | QED Investors (lead) | Wikipedia |
| Mar 2019 | Series A | US$5.5M | Not disclosed | Quantum Capital Partners | Wikipedia |
Moniepoint timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2015 — Moniepoint is founded in Lagos by Tosin Eniolorunda (CEO) and Felix Ike (CTO).
- Mar 2019 — Series A: US$5.5M. Investors: Quantum Capital Partners.
- 2022 — Pre-Series C: US$50M. Investors: QED Investors (lead).
- Oct 2024 — Series C: US$110M, valuing the company at Over US$1B. Investors: Development Partners International (ADP III) and Google's Africa Investment Fund (co-leads); Lightrock.
- Oct 2025 — Series C extension: US$90M. Investors: Investors including Visa.
- October 2025 — Series C total: More than US$200 million after a US$90 million extension.
Investors
Overview
Moniepoint is a Nigerian fintech that provides banking, payments and credit to businesses and, increasingly, individuals. It became known for its huge network of point-of-sale (POS) terminals, used by shops, market traders and "agent bankers" who provide cash withdrawals, deposits and transfers in neighbourhoods across Nigeria. On top of payments, it offers business bank accounts, working capital loans, personal banking and other financial tools. It has become one of Nigeria's largest payment processors by transaction count.
Tosin Eniolorunda, the CEO, and Felix Ike, the CTO, founded the company in Lagos in 2015 as TeamApt, initially building software for banks. It later launched its own products under the Moniepoint brand and renamed the company. Its microfinance bank subsidiary was upgraded to national status, allowing it to operate across Nigeria.
The agent banking model
Many Nigerians live far from bank branches and still rely heavily on cash. Agent banking fills the gap: small shop owners act as banking agents, using POS terminals to let customers withdraw cash, deposit money and make transfers, earning a fee for each service. Moniepoint built one of the largest agent networks in Nigeria by giving agents reliable terminals, fast settlement and good support. During Nigeria's 2023 cash shortage, when new banknotes were scarce, agent networks became even more important to everyday commerce.
How Moniepoint makes money
Moniepoint earns transaction fees on payments and transfers processed through its terminals and accounts, fees from agents and merchants, interest on loans to businesses, and income from banking services. Because it serves a very large number of small businesses, each paying modest fees, scale and reliability are critical. Credit is a growing source of income: transaction data from its terminals helps it judge which businesses can repay loans.
Funding history
- March 2019, Series A: US$5.5 million from Quantum Capital Partners.
- 2021 to 2022: a Series B led by Novastar Ventures and a US$50 million pre-Series C led by QED Investors.
- October 2024, Series C: US$110 million co-led by Development Partners International's African Development Partners III fund and Google's Africa Investment Fund, with Lightrock participating. The round valued Moniepoint at over US$1 billion, making it one of Africa's unicorns.
- October 2025, Series C extension: US$90 million, with investors including Visa, bringing the Series C to more than US$200 million.
The company did not disclose an updated valuation with the extension, so we use the US$1 billion-plus figure.
Revenue
Third-party data sites publish revenue figures for Moniepoint that differ widely from each other. We haven't found a company-confirmed figure, so we show revenue as not disclosed.
Expansion
Moniepoint has expanded beyond business payments into personal banking in Nigeria, and has looked at opportunities outside Nigeria, including in the UK, where it has worked to serve the African diaspora, and other African markets. International expansion is a common path for leading Nigerian fintechs, partly to diversify away from currency risk at home.
Challenges
Operating in Nigeria brings particular risks. The naira lost much of its value against the US dollar after currency reforms in 2023 and 2024, which reduces the dollar value of revenue and makes foreign investors cautious. Fraud through POS terminals and accounts is a constant problem, and the Central Bank of Nigeria has tightened rules on customer verification and agent banking. Fintechs have also faced regulatory restrictions on onboarding new customers until they meet stricter identity checks. Strong compliance is essential to keeping licences.
Competitive landscape
Moniepoint competes with other Nigerian fintechs such as OPay, Palmpay and Kuda, with traditional banks, and with payment companies like Flutterwave and Paystack. Its advantages are its agent network, reliability, product range for small businesses and access to transaction data for lending.
What to watch next
Watch growth in lending and personal banking, expansion outside Nigeria, regulatory changes in agent banking, currency movements, and any new funding round that updates its valuation.
Key facts at a glance
Moniepoint is a Lagos fintech founded in 2015 as TeamApt by Tosin Eniolorunda and Felix Ike. It runs a large POS and agent banking network, business and personal banking, and lending. It raised a US$110 million Series C in October 2024 co-led by DPI and Google's Africa Investment Fund at a valuation over US$1 billion, and a US$90 million extension with Visa in October 2025.
Why transaction data matters for lending
Banks in many African markets struggle to lend to small businesses because they lack reliable financial records. A payments company that processes a shop's sales every day sees exactly how much money flows through the business, how regular it is and how it changes over time. That data allows much better credit decisions than paperwork alone, and repayments can be collected automatically from future sales. This is why payments companies in emerging markets often grow into lenders, and why lending can become their most profitable business.
Questions to ask about an African fintech
- Which licences does it hold, and in which countries?
- How exposed are its revenue and costs to currency movements?
- How does it manage fraud and customer verification?
- What share of revenue comes from lending, and how are credit losses trending?
Our guide to researching a private company explains how to find licence records and other public information.
Checking these points before choosing a partner or investing reduces the risk of surprises later.
What this means if you're…
A small business in Nigeria: compare POS and banking providers on settlement speed, fees, uptime and access to credit.
A fintech founder in an emerging market: Moniepoint shows how serving offline businesses can build a large, data-rich platform.
An investor: weigh strong growth against currency and regulatory risk.
Latest developments (October 2026)
Moniepoint extended its Series C in October 2025 with about US$90 million more, including from Visa and LeapFrog, taking the Series C above US$200 million and keeping its valuation above US$1 billion, according to data summarised by CB Insights. The Nigerian company continues to grow its business banking and payments network.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Moniepoint do?
Moniepoint is a fintech / business banking and payments in africa company headquartered in Lagos, Nigeria. It was founded in 2015.
What is Moniepoint's valuation?
Moniepoint was valued at Over US$1 billion as of October 2024, according to Wikipedia. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Moniepoint make?
Moniepoint is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Moniepoint's latest funding round?
The most recent financing we have verified is a series c extension in Oct 2025: US$90M. Source: Techpoint Africa.
Who are Moniepoint's investors?
Investors named in public announcements include Development Partners International, Google's Africa Investment Fund, Lightrock, QED Investors, Visa, Quantum Capital Partners and Novastar Ventures.
Who founded Moniepoint?
Moniepoint was founded in 2015 by Tosin Eniolorunda (CEO) and Felix Ike (CTO).
Is Moniepoint a public company?
No. Moniepoint is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Moniepoint headquartered?
Moniepoint is headquartered in Lagos, Nigeria.