Moniepoint

Moniepoint has spent the last decade turning itself from a back-end payments contractor into the piece of infrastructure that much of Nigeria's informal economy now runs on. Tosin Eniolorunda and Felix Ike started the company in 2015 as TeamApt, building payment systems for banks rather than serving customers directly. That changed in 2019, when the business began courting merchants on its own, and by 2023 it had grown large enough that the company folded TeamApt into the name of its flagship product and became Moniepoint outright.

The scale it now operates at is hard to overstate. According to internal figures the company released in early 2026, Moniepoint processed more than 14 billion transactions worth roughly $294 billion over the course of 2025, up from about $150 billion two years earlier. The company says eight in every ten in-person payments made in Nigeria now go through its network, and it remains the country's largest merchant acquirer.

That combination of growth and profitability is what carried Moniepoint into unicorn territory. In October 2024, the company closed a $110 million Series C round led by Development Partners International, pushing its valuation above $1 billion for the first time. A year later, in October 2025, Moniepoint added a further tranche bringing in Visa, the International Finance Corporation and LeapFrog Investments and taking the total Series C raise past $200 million.

The company describes its mission as building financial happiness for its customers, a phrase it uses often enough that it has become something close to an internal operating principle rather than a marketing line. For a business that started out invisible, writing payment rails for banks that never carried its name, Moniepoint's rise has been unusually direct: grow distribution, stay profitable, and use both to move into new products and new countries one licence at a time.