The investment reflects Moniepoint’s rapid growth, sustained profitability and proven impact, and will fuel its ongoing mission to power the financial dreams of millions of businesses and their customers across Africa and the global diaspora.

The round was led by Development Partners International’s African Development (ADP) III fund, with the final close anchored by LeapFrog Investments, a leading impact investor.

Other investors in the round include Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.

Moniepoint is one of the few fintechs globally, and the first in Africa, to achieve profitability at unicorn scale while driving financial inclusion.

As Nigeria’s leading payments and digital banking platform, its customer base exceeds 10 million active businesses and personal banking customers, and it processes over US$250 billion in digital payments transaction value annually.

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 closure of the funding round marks a highly successful period featuring notable product launches, such as MonieWorld, a remittance solution targeting the African diaspora in the United Kingdom and the launch of its integrated payment and bookkeeping solution designed to simplify business operations for micro, small, and medium-sized enterprises (MSMEs).

Moniepoint was ranked as one of Africa’s fastest-growing companies for the third consecutive year by the Financial Times and featured among CNBC’s list of the world’s top fintech companies in 2025.

Moniepoint Inc. (formerly TeamApt Inc.) was founded in 2015 by Tosin Eniolorunda and Felix Ike. Today, it is Nigeria’s leading business banking provider and a trusted financial platform for the country’s MSMEs.

Originally rooted in building payment infrastructure and solutions for banks, Moniepoint has considerably expanded its offerings to include digital payments, business and personal banking, credit, cross-border payments, and business management tools.

Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc., said:

“This is a proud day for Moniepoint, and I extend my sincere gratitude to the entire team for their tireless work to make this possible. We founded the Company out of a genuine passion to widen financial inclusion and to help African entrepreneurs realise their potential. That same passion drives the work we do today, and it is heartening to know it is shared by leading, global institutions.

“We will not rest on our laurels. The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story, with financial happiness for Africans everywhere remaining our ultimate goal.”

Adefolarin Ogunsanya, Partner at Development Partners International, commented:

“Since leading the first close of this landmark Series C, we have seen Moniepoint reach new heights – delivering innovation alongside sustained growth and profitability. DPI is proud to have anchored this round, reaffirming our conviction and support for the business and its leadership team. We continue to be impressed by Moniepoint’s powerful combination of commercial success and its impact on financial inclusion, and look forward to our continued partnership with Tosin and his team as they scale further in Nigeria, across Africa and beyond.”

Karima Ola, Partner at LeapFrog Investments, added:

“MSMEs are the heartbeat of African economies – creating the majority of jobs and driving innovation. However, the vast majority have no access to digital banking and formal credit. Moniepoint has become an indispensable partner to MSMEs by empowering them with the digital tools and trust they need to transact, grow, and employ others at scale.

“At LeapFrog, our vision is to support the ongoing evolution of Africa’s financial infrastructure – where global digital payment ecosystems are well connected; cross-border payments are smooth, safe and affordable; and SMEs have seamless access to credit, digital payments, and the wider suite of financial tools they need to thrive. Our investment in Moniepoint epitomises that vision.”

Farid Fezoua, Global Director for Disruptive Technologies, Services, and Funds at IFC, said:

“IFC has extensive experience in investing in technology-driven startups that help businesses process and accept payments in emerging markets. 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 other traditional financial institutions. Moniepoint provides competitively priced point-of-service devices, as well as a modern platform enabling MSMEs to access loans, bookkeeping, and several other offerings. This allows merchants to grow their business and create more jobs in a sector considered the backbone of Nigeria’s economy, where cash is still predominant.”

This latest capital raise sees Moniepoint expand its roster of blue-chip investors which already comprises institutions including QED Investors, Novastar Ventures, Lightrock, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.

Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint in this transaction.

It will be recalled that the Series C round’s first close announcement took place in October 2024.

Behind these impressive figures are the powerhouse placing big bets on the continent’s startup potential, which include venture capital firms, private equity funds, and private investment funds. 

These investors are not just funding startups but shaping the African startup ecosystem, providing support to companies addressing real-world challenges. Below, are the major investors who led the funding rounds for most of the largest deals in May, with each funding led not less than $10 million:

1. Prosus Ventures

Prosus Ventures is the investing arm of Prosus. It invests in emerging technologies and innovative companies across Europe, Southeast Asia, and the Americas. Focusing on key technology sectors like e-commerce, mobility and logistics, fintech and blockchain, agritech and sustainability.

Prosus Ventures led the Thndr, a Cairo-based investment platform $15.7 million funding round in May, with participation from BECO Capital, JIMCO Capital, Endeavor Catalyst, Y Combinator, and Onsi Sawiris.

It has invested in several startups and innovative companies across the globe; Prosus ventures portfolio includes Bandlab, Bibit, Thndr, Zest Equity, and Zapia, amongst others.

2. Development Partners International (DPI) Venture Capital

DPI Venture Capital is a platform that supports entrepreneurs, from the initial ideas stage to achieving successful sales. DPI venture capital empowers high-growth ventures to solve meaningful challenges and provide access to opportunities across the continent.

DPI has invested in various African startups, from investing $110 million in Moniepoint during its Series C round in 2024 to leading Sylndr’s $15.7 million Series A equity round to accelerate Sylndr’s expansion across Egypt, boost its pricing intelligence, and strengthen partnership with dealers and service providers.

DPI portfolio includes Moniepoint; Solevo, a chemical distribution company; Cofina, a financial services provider; and other companies cutting across retail, telecommunication, and fintech.

3. Al Mada Ventures:

Al Mada is one of Africa’s private investment funds and operates in different sectors, such as banking, telecommunications, renewable energy, and the food sector.

Identifying the capital deficit affecting African startups, Al Mada launched a $110 million capital venture, Al Mada Ventures, to address the gap in growth-stage investing.

Al Mada  Ventures recently led Money Fellow, $13 million pre-Series C round in conjunction with DPI Nclude Fund, a fintech-focused investment vehicle that supports early-stage and growth-stage startups in Egypt and Africa as a whole to drive financial inclusion. 

4. Partech:

Partech Africa is a private equity fund that focuses on startups using tech to address emerging opportunities in various growth stages. It invests in fintech, entertainment companies, mobility as well as companies specialized in supply chain services.

Partech co-led AURA, a South African health tech $15  million Series B round with the Cathay AfricInvest Innovation Fund (CAIF). It also led Nawy’s $52 million Series A equity round with participation from March Capital, VKAV, VentureSouq, and DPI Nclude Fund, among others.

Partech Africa focuses on startups with major activities based in Africa to raise between €0.5 million and €5 million as initial tickets.

The workshop provided a strategic platform for states to assess their readiness for DPI implementation, which integrates digital identity, data ecosystems, and payment systems to drive economic growth and efficient public service delivery.

The Anambra delegation, comprising officers from the Anambra ICT Agency and AIRS, actively engaged in discussions on best practices, policy alignment, and technology-driven solutions for improving governance.

Key highlights from the workshop included a guided session on understanding the DPI and IRA Readiness Tools, helping states evaluate their digital infrastructure and revenue automation capabilities.

Participants also took part in state-specific assessments through hands-on exercises, identifying strengths, challenges, and opportunities for digital transformation.

Additionally, the workshop provided valuable insights on collaboration and strategy development, focusing on bridging digital gaps, enhancing revenue administration, and leveraging global best practices for efficient service delivery.

Anambra State is set to strengthen its digital infrastructure by addressing identified gaps and implementing DPI-compliant solutions.

In line with the DPI initiative, the state said it will also enhance its legal and administrative frameworks.

As Anambra continues its strides towards digital transformation, the NGF DPI workshop will serve as a roadmap for leveraging technology to improve governance, enhance revenue generation, and build a truly digital-first economy.

Nigeria’s IT ecosystem, under the stewardship of Kashifu Inuwa Abdullahi, the Chief Information Technology Officer and Director General of the National Information Technology Development Agency (NITDA), is emerging as a beacon of digital transformation.

Through strategic international and local stakeholder engagements, Inuwa is steering Nigeria’s digital sector toward unprecedented growth, aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Recently, Inuwa’s international engagements reflect his commitment to positioning Nigeria as a global digital leader.

During GITEX Global 2024, one of the world’s premier technology events, he delivered a keynote address on “Securing Africa’s Digital Future: Nigeria’s Cybersecurity Roadmap.”

In this address, he meticulously outlined Nigeria’s cybersecurity framework, a cornerstone of the nation’s ambition to foster a secure and resilient digital ecosystem.

Emphasising the critical role of digital innovation in economic diversification, Inuwa mapped out five foundational pillars: digital fluency, cybersecurity skills, robust policy frameworks, technological innovation, and cybersecurity innovation roadmaps.

He left no stone unturned in highlighting Nigeria’s commitment to closing the cybersecurity skills gap, securing data systems, and developing a national cybersecurity architecture aligned with global standards.

In addition to cybersecurity, Inuwa has shown a remarkable capacity to engage with international stakeholders, fostering collaborations that promise to boost Nigeria’s digital ecosystem.

His meetings with executives of the Dubai World Trade Centre (DWTC) at GITEX 2024 exemplify this.

He engaged (DWTC) towards organising GITEX Nigeria 2025 to chart ways for inclusive stakeholder participation in the event, positioning Nigeria as a prime destination for global investors.

He rightly argued that Africa’s largest economy, brimming with a vibrant youth population and a burgeoning tech startup scene, is ripe for value-driven investments.

In line with President Tinubu’s Renewed Hope Agenda, which seeks to transform Nigeria’s agricultural sector through innovation, Inuwa has spearheaded collaborative efforts between NITDA and the National Agricultural Development Fund (NADF).

This strategic partnership aims to harness cutting-edge technology to address the myriad challenges plaguing the agricultural sector, from resource optimisation to improving productivity.

The signing of a Memorandum of Understanding (MoU) between the two entities marks a watershed moment in Nigeria’s quest for food security.

The goal is to integrate technology into agriculture, drive innovation, and ultimately enhance national food security efforts of the present administration.

Inuwa’s local engagements are equally impressive. His keynote address at the Nigeria Govtech Conference and Awards touched the role of digital innovation in fostering economic growth and empowering citizens.

He emphasised the importance of a comprehensive agenda focused on human capital development, digital literacy, and skills training, particularly in both formal and informal sectors.

This vision aligns seamlessly with President Tinubu’s commitment to leveraging technology to build strong institutions that enhance governance and improve the quality of life for Nigerians.

On a broader continental stage, Inuwa’s participation in the 3rd Moonshot Annual Tech Conference in Lagos, alongside tech leaders from across Africa, further solidified his status as a digital economy visionary.

In his panel discussion on “Building Digital Economies for the World,” Inuwa articulated the need for governments to collaborate with the tech ecosystem in developing robust regulations that support cross-border data exchange within the continent.

He advocated for building Digital Public Infrastructures (DPI) to unlock the full potential of Africa’s digital economy, positioning Nigeria as a leader in the Fourth Industrial Revolution.

Inuwa’s leadership in promoting Digital Public Infrastructure (DPI) was also front and center at the 17th International Conference on Theory and Practice of Electronic Governance (ICEGOV 2024) in Pretoria, South Africa.

Representing the Honourable Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, Inuwa reiterated the need for scalable, inclusive, and secure DPI that builds trust between governments and citizens.

Kashifu Inuwa also introduced the African DPI Community, a platform for collaboration aimed at accelerating digital transformation across the continent.

His efforts in advocating for digital identity systems, payment platforms, and data exchange infrastructures have placed Nigeria at the forefront of DPI innovation in Africa.

Additionally, Inuwa’s active role in the global DPI discourse was further demonstrated by his participation in the United Nations General Assembly, where he contributed to the launch of the Universal DPI Safeguards Framework.

This initiative sets new standards for the design and implementation of digital infrastructures, prioritising public interest and promoting safe, inclusive, and interoperable systems.

Inuwa’s insights on Nigeria’s journey toward building a resilient DPI showcased the country’s commitment to harnessing technology for sustainable development, reinforcing the Federal Government’s dedication to supporting research and technological innovation.

In every sphere of his engagement, both local and international, Inuwa’s efforts are emblematic of a leader committed to digital transformation.

His work is in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda; and it is shaping the very future of Nigeria’s digital ecosystem, ensuring that Nigeria’s digital future is both secure and prosperous, setting the stage for the nation to lead in the global digital economy.

This move, Techeconomy gathered, is to further strengthen the Nigeria cyberspace and enhance the digital trust as enshrined in the NITDA Strategic Roadmap and Action Plan 2.0.

Kashifu Inuwa, NITDA director general, made this known during a working visit to his counterpart, Engr. Bisoye Coker-Odusote, the DG of NIMC, to discuss the various initiatives that centered around the building of DPI stacks for a secure and seamless data exchange and forming partnerships to transform the national identity system.

While emphasising that the collaboration will harness the potential of the technology innovation ecosystem, he maintained that the use of Public Key Infrastructure (PKI) will also help to drive the Nigeria’s digital transformation agenda.

He used the opportunity to provide insights into NITDA’s Strategic Roadmap and Action Plan stating that NITDA is evolving and that has informed the decision of the Agency to keep re-imagining itself. He noted that the Agency recently re-crafted its vision and mission to reflect the current realities in the industry.

Inuwa further explained that the NITDA’s Strategic Roadmap and Action Plan (SRAP 2024-2027) 2.0 is anchored on eight pillars which include; Fostering Digital Literacy and Cultivating Talents, Building a Robust Technology Research Ecosystem, Strengthening Policy Implementation and Legal Frameworks, Promoting Inclusive Access to Digital Infrastructure and Services, Enhancing Cybersecurity and Digital Trust, Nurturing an Innovative and Entrepreneurial Ecosystem, Forging Strategic Partnerships and Collaborations, and Cultivating a Vibrant Organisational Culture with an Agile Workforce.

In her remarks, the NIMC’s Director General, expressed the enthusiasm of the Commission to collaborate with NITDA in advancing the digital economy sector stating that:

“No institutions can implement all its policies and programs in isolation, we need each other to achieve the set targets.” 

Engr. Coker further informed the gathering that President Bola Ahmed Tinubu has signed a circular on data integration and harmonisation of the Ministries, Departments and Agencies (MDAs) and on PKI for growth and development of the country.

The highlight of the meeting was the inauguration of a 12-man committee that is saddled with the responsibility of kick-starting and harmonising the initiatives and the committee is expected to deliver a comprehensive implementation report in the coming weeks.