Digital financial institution, Moniepoint Inc., has announced it successfully raised over $200 million in equity financing following the close of its Series C funding round, aimed at enhancing financial inclusion and digital transformation across Africa.
In a statement on Tuesday, the firm described the capital raise as a landmark milestone that reinforces its strong growth trajectory, sustained profitability, and impact-driven mission to empower businesses and individuals across the continent and beyond.
The round was led by Development Partners International’s African Development III Fund, with major participation from LeapFrog Investments, alongside Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation , Proparco, Swedfund, and Verod Capital Management.
Moniepoint said the funding would power its next growth phase, helping the company expand financial access and build sustainable infrastructure for underserved communities.
“We founded Moniepoint out of a genuine passion to widen financial inclusion and help African entrepreneurs realise their potential,” said Tosin Eniolorunda, Founder and Group CEO.
“The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum, with financial happiness for Africans everywhere remaining our ultimate goal.”
Development Partners International, Partner, Adefolarin Ogunsanya, said the fund was proud to anchor the Series C round, highlighting Moniepoint’s rare blend of commercial success and social impact.
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“Since the first close of this landmark Series C, Moniepoint has grown impressively, delivering innovation, profitability, and scale. We remain confident in its leadership and mission,” he stated.
LeapFrog Investments Partner, Karima Ola commended Moniepoint’s commitment to empowering micro, small, and medium enterprises MSMEs a key driver of job creation and innovation in Africa.
“Most MSMEs lack access to digital banking and credit. Moniepoint has become indispensable by providing the digital tools and trust needed to transact and grow,” Ola said.
Farid Fezoua, Global Director for Disruptive Technologies at the International Finance Corporation emphasised that the institution’s investment aligns with its goal to expand digital payment adoption in Nigeria’s MSME sector.
“Moniepoint offers affordable point-of-sale devices and a modern platform that helps merchants access credit, bookkeeping, and other business tools strengthening Nigeria’s economic backbone,” Fezoua explained.
The round also saw renewed participation from existing blue-chip investors, including QED Investors, Novastar Ventures, Lightrock, FMO, British International Investment, Global Ventures, Endeavor Catalyst, New Voices Fund, and Verod.
Financial Technology Partners acted as the exclusive financial and strategic advisor to Moniepoint for the transaction.
The company’s Series C first close was announced in October 2024, marking another chapter in Moniepoint’s rise as one of Africa’s most profitable fintechs operating at unicorn scale.
