Moniepoint Incorporated has announced the successful completion of a $200 million Series C funding round aimed at expanding its financial inclusion drive across Africa and supporting millions of small businesses with improved access to digital financial services.
The funding, led by Development Partners International (DPI) through its African Development Partners III fund, also saw major participation from LeapFrog Investments, Lightrock, Alder Tree Investments, Google Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management. The investment is expected to enhance Moniepoint’s capacity to empower individuals and businesses across the continent with affordable and accessible banking solutions.
Speaking on the development, Moniepoint’s Founder and Group Chief Executive Officer, Tosin Eniolorunda, expressed gratitude to investors for their confidence in the company’s vision. He said the funds would be channeled toward deepening financial access, expanding services to underserved areas, and driving the next phase of the company’s growth. “We founded the company out of a genuine passion to widen financial inclusion and help African entrepreneurs realise their potential. The proceeds from our landmark Series C will be deployed judiciously to generate more momentum, with financial happiness for Africans everywhere remaining our ultimate goal,” Eniolorunda stated.
DPI Partner, Adefolarin Ogunsanya, described Moniepoint as a company that uniquely combines commercial success with social impact, adding that its growth trajectory reflects the transformative potential of African fintechs. Similarly, LeapFrog Investments Partner, Karima Ola, highlighted the company’s vital role in supporting micro, small, and medium enterprises (MSMEs) across the continent. “MSMEs are the heartbeat of Africa’s economy, but many lack access to digital banking and formal credit. Moniepoint has become an indispensable partner for these businesses, enabling them to transact, grow, and employ others at scale,” she said.
The International Finance Corporation’s Global Director for Disruptive Technologies, Farid Fezoua, also praised Moniepoint’s efforts in strengthening the digital payment ecosystem for Nigerian MSMEs, which he noted remain underserved by traditional banking systems. According to him, IFC’s partnership will help drive financial inclusion among small business owners and contribute to Nigeria’s economic development.
Founded with a mission to democratize access to financial services, Moniepoint has become one of Africa’s few profitable fintechs operating at unicorn scale. The company said the latest funding would accelerate innovation, expand its market presence, and sustain its commitment to empowering small businesses through inclusive digital finance.
