Moniepoint Raises $90 Million for Expansion
Visa-backed fintech Moniepoint has raised $90 million in new funding. The goal is to grow its presence in Africa and enter new markets like the UK.
This round brings Moniepoint’s total funding to $200 million. It marks another step in the company’s rise as one of Africa’s leading fintech firms.
The investment came from Visa, Google’s Africa Investment Fund, Development Partners International (DPI), and Leapfrog Investments. Ross Strike, Moniepoint’s Senior Vice President, confirmed the company is now valued at over $1 billion.
“We are seeing more confidence from global investors,” Strike said. “They believe in Africa’s growth story and want to be part of it.”
Moniepoint plans to use the new capital to strengthen its base in Nigeria and expand into Kenya and the United Kingdom. The company wants to improve financial access for small businesses and individuals.
Strengthening Financial Access in Nigeria
Moniepoint was founded in 2015 by Tosin Eniolorunda in Lagos, Nigeria. It started as a payment service provider but has grown into a full financial platform.
The company now offers payments, banking, and remittance services. It processes more than $250 billion in transactions each year.
Moniepoint’s network of POS agents has become a core part of Nigeria’s financial system. These agents help millions of people make deposits, withdrawals, and bill payments daily.
Nigeria remains Moniepoint’s biggest market. The company plans to launch new financial products such as credit and insurance services.
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Expanding into Kenya and the UK
Moniepoint is moving into Kenya, one of Africa’s fastest-growing digital finance markets. It also plans to enter the UK to serve African businesses and the diaspora.
Each market will have its own local team and tailored financial services. The company wants to adapt its technology to fit local needs.
Strike said Moniepoint hopes to be active in five African countries in the next few years. “We want to help small businesses grow with digital tools that truly work,” he said.
Africa’s young population is driving digital change. More people are skipping traditional banking and choosing mobile platforms for everyday payments.
Global Backers Strengthen Confidence
The involvement of Visa and Google shows growing trust in African fintech. Both firms have supported financial inclusion projects in emerging markets.
Visa continues to expand its partnerships in Africa. It aims to improve payment infrastructure across the continent. Google’s Africa Investment Fund focuses on technology startups that create local impact.
Moniepoint CEO Tosin Eniolorunda said the investment supports the company’s core mission. “We want every African to have equal access to the financial system,” he said.
The funds will also help Moniepoint improve its compliance, data security, and cross-border operations.
Rising Confidence in African Startups
Moniepoint’s success is part of a larger trend in Africa’s startup space. Tech companies across the continent have raised over $2.2 billion in 2025, surpassing previous years.
Nigeria leads the growth. Fintech firms such as Flutterwave, Interswitch, and Opay have already achieved unicorn status.
Moniepoint’s $1 billion valuation adds to this momentum. Its strong performance and focus on transparency continue to attract investors.
The rise in funding also shows a growing belief that African startups can scale globally. Investors see long-term value in the continent’s digital economy.
Building the Future of African Finance
Moniepoint’s goal is simple. It wants to make finance easier for Africans. The company plans to expand its digital tools for entrepreneurs and small business owners.
New features will include digital lending, mobile savings, and cross-border transfers. Moniepoint believes these tools will drive inclusion and economic growth.
The team also aims to build trust in financial systems through transparency and security. It hopes to set new standards for digital finance across Africa.
Moniepoint’s latest funding marks a strong signal to global investors. Africa’s fintech future is only getting started.
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