Nigerian Fintech Expands Its Footprint Across Africa
Moniepoint Series C Funding 2025 sees Nigeria’s fintech leader secure an additional $90 million, bringing its total raise to $200 million to drive expansion across Africa and the UK. The round attracted global investors, including Visa Inc., Development Partners International (DPI), LeapFrog Investments, and Google Africa Investment Fund.
Ross Strike, Moniepoint’s Senior Vice President, confirmed the development, saying global confidence in African fintech continues to strengthen.
“We are seeing more interest coming slowly from global investors, especially those that have seen other emerging markets, willing to underwrite the African growth story,” .
Fueling Expansion Beyond Nigeria
According to Moniepoint, the new capital will be used to fortify its Nigerian operations and support expansion into the United Kingdom and Kenya, deepening the company’s footprint across Africa.
“The proceeds of the round will be used to power the company’s next phase of growth, enhancing its capacity to help African businesses and individuals realise their financial dreams and accelerating Moniepoint’s continued expansion across the continent and into international markets,” the company said.
The latest raise follows a $110 million Series C announced in 2024. The company is now valued at over $1 billion, securing its position among Nigeria’s unicorn fintechs.
Founder Spotlight: Tosin Eniolorunda’s Mission for Financial Happiness
Founded in 2015 by Tosin Eniolorunda, Moniepoint began as a payments infrastructure company and has evolved into a full-fledged digital financial ecosystem serving millions of users.
“Moniepoint was founded out of a genuine passion to widen financial inclusion and help African entrepreneurs realise their potential,” Eniolorunda said.
That vision aligns with the company’s long-term goal of creating “financial happiness for Africans everywhere.”
In April 2025, Moniepoint was also featured among the 2025 Endeavour Outliers — a recognition of startups driving innovation and scale across Africa’s digital economy.
Moniepoint’s Strategic Partnerships
The company has also been expanding its ecosystem through fintech partnerships and innovation programs. Earlier in the year, Moniepoint launched contactless card technology in partnership with AfriGO, enabling millions of Nigerians to make seamless tap-and-go transactions.
Read more: Tap, Pay, Go! Moniepoint Partners AfriGO to Introduce 5 Million Contactless Payment Cards
Fintech Momentum in Africa
Moniepoint now processes over $250 billion annually and plans to expand into at least five African markets in the medium term. With Africa’s youthful, tech-savvy population driving fintech adoption, global capital continues to flow into the continent’s startups.
Other Nigerian fintechs such as Flutterwave, Interswitch, and Opay have already achieved unicorn status, and Moniepoint’s latest raise strengthens Nigeria’s position as the epicenter of fintech innovation in Africa.
Global Confidence in African Growth
Farid Fezoua, Global Director for Disruptive Technologies at IFC, said the organisation supports Moniepoint’s vision to expand digital payments and empower small businesses.
“We look forward to supporting Moniepoint’s effort to increase the adoption of digital payments among MSME retailers in Nigeria, a segment underserved by banks and traditional financial institutions,” Fezoua said.
Editor’s Note
Moniepoint’s $200 million Series C milestone demonstrates more than investor faith, it marks Africa’s continued fintech evolution. With Tosin Eniolorunda at the helm, the company is writing a bold new chapter that merges technology, trust, and financial happiness for millions across Africa and beyond.
