Lagos, Nigeria — Nigerian fintech giant Moniepoint has raised an additional $90 million to close its Series C funding round, bringing the total to $200 million. The latest capital injection cements Moniepoint’s position as one of Africa’s most valuable and fastest-growing financial technology companies.
According to an update shared by tech content creator and product designer, Abayomi Semudara, the extension round was anchored by Development Partners International (DPI), with participation from major global investors including Visa, Google’s Africa Investment Fund, and the International Finance Corporation (IFC).
The initial $110 million raised earlier in 2024 had already pushed Moniepoint past the $1 billion valuation mark, granting it coveted unicorn status. This latest funding round, Semudara noted, signals continued investor confidence in the company’s business model and long-term strategy.
Moniepoint, formerly known as TeamApt, has built one of Africa’s most robust payment infrastructures, serving millions of merchants and small businesses across Nigeria. The company said the new funds will be used to strengthen operations in Nigeria—its core market—and to accelerate international expansion efforts, particularly in the United Kingdom and Kenya.
Industry analysts have described the deal as a major vote of confidence in Africa’s fintech sector, which has faced tighter funding conditions globally in recent years.
“This is a massive financial commitment to African fintech,” Semudara remarked, emphasizing the significance of such a large-scale investment in the current market environment.
Moniepoint’s continued growth and strong investor backing position it as a key player driving financial inclusion and digital payment innovation across emerging markets.
