Thursday, July 17, 2025
21.8 C
London
HomeBankingAfrica’s “fastest-growing fintech” Moniepoint secures $110m Series C funding

Africa’s “fastest-growing fintech” Moniepoint secures $110m Series C funding

Date:

Anthropic Launches Claude: A New Era for Financial Services

Discover how Claude by Anthropic is transforming the landscape...

Barclays Fined £42M Due to Failures in Money Laundering Risk Management

Exploring the Consequences of Inadequate Compliance in BankingHighlights: Barclays...

Activist Investor Increases Stake in Global Payments: What It Means for the Future

Exploring the Impact of Shareholder Activism on Financial ServicesHighlights:...
  • Funding Round: Moniepoint raised $110 million in a Series C round led by ADP III, with participation from Lightrock, Google’s Africa Investment Fund, and Verod Capital.
  • Company Background: Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint offers payments, banking, credit, and business management solutions to businesses. It has offices in Nigeria, Kenya, the UK, and the US.
  • Operations: Moniepoint claims to be Nigeria’s leading business banking provider, processing $17 billion in transactions monthly.
  • Recent Expansions: In August 2023, Moniepoint launched Moniepoint Microfinance Bank for personal banking and received approval to acquire Kenyan fintech Kopo Kopo.
  • Use of Funds: The investment will go toward building an integrated platform for African businesses and expanding further across the continent.
  • CEO Statement: CEO Tosin Eniolorunda says the funding will help drive financial inclusion and support entrepreneurship in Africa.

Related stories

spot_img

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories