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Total amount raised
$320M
Latest funding date
2025-10-21
Location
Moniepoint has successfully raised funds over 10 rounds, with the latest being a Series C round. The company is backed by 22 investors, including Development Partners International and Proparco.
Moniepoint offers a comprehensive suite of business banking solutions, including business accounts, POS terminals, expense cards, working capital loans, and Moniebook software for managing sales and stock. Keep reading to explore the intricacies of Moniepoint's fundraising journey and the investors backing this innovative platform.
Moniepoint has raised funding across ten rounds backed by over 22 investors including Development Partners International, LeapFrog Investments, Google's Africa Investment Fund, Visa, QED Investors, and Lightrock.
Keep reading to explore Moniepoint's fundraising journey, from its early Series A to its landmark $200M+ Series C completion.
What Is Moniepoint?
Moniepoint is a financial technology company based in London, England, United Kingdom. The company specializes in providing payments, credit, business management, and banking services for businesses. Moniepoint offers a range of business banking solutions, including business accounts, POS terminals, expense cards, working capital loans, and business savings plans. It is licensed and regulated by the Central Bank of Nigeria and insured by the Nigerian Deposit Insurance Corporation (NDIC). Originally founded as TeamApt in 2015, Moniepoint is now Nigeria's largest business banking platform, processing over $250 billion in annual transaction value and serving 10 million+ active users.
How Much Funding Has Moniepoint Raised?
- Series A
- Amount Raised: USD 5,500,000
- Date: February 2019
- Lead Investors: Quantum Capital Partners
- Participants: Quantum Capital Partners
- Series A (Second Tranche)
- Amount Raised: USD 9,799,998
- Date: December 2020
- Lead Investors: Undisclosed
- Series B
- Amount Raised: USD 30,000,000
- Date: July 2021
- Lead Investors: Novastar Ventures
- Participants: Lightrock, British International Investment (BII), Global Ventures, Oui Capital, FMO, Kepple Africa Ventures, Endeavor Catalyst
- Series B (Extension)
- Amount Raised: USD 20,000,000
- Date: October 2021
- Lead Investors: Undisclosed
- Debt Financing
- Amount Raised: USD 5,000,000
- Date: June 2022
- Lead Investors: British International Investment (BII)
- Pre-Series C
- Amount Raised: USD 50,000,000
- Date: August 2022
- Lead Investors: QED Investors
- Participants: Novastar Ventures, Lightrock, British International Investment (BII)
- Valuation: USD 400,000,000
- Series C (First Close)
- Amount Raised: USD 110,000,000
- Date: October 2024
- Lead Investors: Development Partners International (DPI) — African Development Partners (ADP) III fund
- Participants: Google's Africa Investment Fund, Verod Capital Management, Lightrock
- Valuation: USD 1,000,000,000
- Corporate Round
- Amount Raised: Undisclosed
- Date: January 2025
- Lead Investors: Visa
- Series C (Final Close)
- Amount Raised: USD 90,000,000
- Date: October 2025
- Lead Investors: Development Partners International (DPI), LeapFrog Investments
- Participants: Lightrock, Alder Tree Investments, Google's Africa Investment Fund, Visa, IFC, Proparco, Swedfund, Verod Capital Management
- Valuation: USD 1,000,000,000
Total Amount Raised: At least USD 320,299,998 based on disclosed funding rounds (the January 2025 Corporate Round led by Visa had an undisclosed amount). The combined Series C round totals over USD 200,000,000.
Key Investors
- Development Partners International (DPI)
- Details: DPI is a leading private equity firm focused on deploying global capital in Africa's high-growth companies. It led both the October 2024 first close and the October 2025 final close of Moniepoint's Series C round. Notable portfolio companies include MNT-Halan, Interswitch, and OPay.
- LeapFrog Investments
- Details: LeapFrog is a private equity firm focused on emerging markets, backing companies that serve low-income and underserved populations. It participated as a lead investor in the October 2025 final close of Moniepoint's Series C. Notable portfolio companies include BIMA, Goodlife Pharmacy, and WorldRemit.
- Google's Africa Investment Fund
- Details: Google's Africa Investment Fund supports African startups and technology innovation across the continent. It participated in the October 2024 Series C first close and continued as a participant in the October 2025 close. Notable investments include SafeBoda, Carry1st, and Flutterwave.
- QED Investors
- Details: QED Investors is a premier fintech-focused venture capital firm that led Moniepoint's August 2022 Pre-Series C round, marking QED's first investment in Africa. Notable portfolio companies include Nubank, Credit Karma, and Remitly.
- Lightrock
- Details: Lightrock is a global impact investment firm and an existing investor in Moniepoint across multiple rounds. It participated in the Series B (2021), the Pre-Series C (2022), and the Series C rounds. Notable portfolio companies include BIMA and DrConsulta.
- Visa
- Details: Visa, the global payments giant, made a strategic investment in Moniepoint in January 2025 and also participated in the October 2025 Series C close, reflecting the fintech's strategic alignment with global payment networks.
What's Next for Moniepoint?
Moniepoint stands at the cusp of significant growth opportunities, driven by its recent $110 million Series C funding round. The company plans to expand its digital payment and banking solutions across Africa, targeting both Nigeria and Francophone countries. With a robust platform processing over 800 million transactions monthly, Moniepoint is well-positioned to leverage the increasing demand for financial inclusion and digital banking services.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like Google's Africa Investment Fund and Development Partners International. This financial support could pave the way for additional funding rounds, enabling Moniepoint to scale its operations and introduce new services such as cross-border remittances and inventory management.
However, Moniepoint may face challenges, including navigating diverse regulatory environments across African countries and competing with other fintech giants. Ensuring the security and transparency of its platform will be crucial as the company continues to grow. Despite these hurdles, Moniepoint's strategic vision and solid financial backing suggest a bright future ahead.
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