2024 BSM Index
TOP 50 BRANDS NIGERIA® 2024
| #7 | Moniepoint Limited |
|---|---|
| CEO | Tosin Eniolorunda |
| Year Founded (in Nigeria) | 2015 |
| Website | https://www.moniepoint.com/ |
| Head Office | Lagos |
| Nationality | NG |
Moniepoint, originally founded as TeamApt in 2015 by Tosin Eniolorunda and Felix Ike, is a rapidly growing Nigerian fintech company headquartered in Lagos. The company initially focused on providing payment solutions to financial institutions, but in 2019, it expanded its offerings by securing a switching license from the Central Bank of Nigeria, enabling it to operate as a financial services provider.
Moniepoint has evolved into a comprehensive financial platform offering banking services, loans, and other financial products through its online banking app. In July 2023, the company launched a personal banking service, marking a significant step in its mission to enhance financial inclusion across Nigeria. This move allows Moniepoint to cater to individual customers in addition to businesses, further solidifying its position in the market.
The company has attracted substantial investment over the years, starting with a $5.5 million Series A funding round in 2019 from Quantum Capital Partners. It continued to raise significant capital, including an undisclosed amount in a Series B round led by Novastar Ventures and $50 million in pre-Series C funding led by QED Investors in 2021.
Moniepoint’s impressive growth has been recognized internationally. In 2022, it was named one of the most promising fintech startups by CB Insights and received the Financial Inclusion Award. In 2023, the company was listed by the Financial Times as the second-fastest growing company in Africa, a testament to its rapid expansion and impact on the continent’s financial landscape.
