Moniepoint, the Nigerian fintech backed by Visa Inc., has secured an additional $90 million to accelerate its expansion across Africa and beyond, bringing its latest funding round to $200 million.
The round included participation from Visa, Development Partners International (DPI), LeapFrog Investments, and Google’s Africa Investment Fund, according to Moniepoint Senior VP Ross Strike.
The Big Picture
Founded in 2015 by Tosin Eniolorunda, Moniepoint offers payments, banking, and remittance services and processes over $250 billion in transactions annually.
The company plans to deepen its footprint in Nigeria while expanding into Kenya and the UK, targeting operations in at least five African countries over the medium term.
Why It Matters
The new funding values Moniepoint at over $1 billion, cementing its position among Africa’s leading fintech unicorns. It follows last year’s $110 million raise and signals growing investor confidence in African digital financial services.
The Context
Africa remains the world’s fastest-growing and youngest region, with increasing adoption of tech-driven services from finance to entertainment. Nigeria’s fintech scene — with players like Flutterwave, Interswitch, and Opay — continues to attract major international investment.
In 2025 alone, African startups have raised over $2.2 billion, already surpassing totals from 2023 and 2024, according to Africa: The Big Deal. The surge has also led to a record wave of mergers and acquisitions across the continent’s tech ecosystem.
Source: Bloomberg
Learn more about other African tech startups on Labari Insights, our data repository for tech in Africa: insights.techlabari.com
