Financial Technology (Fintech) / Digital Payments & Banking
Strategic Profile
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly TeamApt Inc.) has evolved from developing payment infrastructure for banks to becoming a comprehensive financial platform, providing services including digital payments, business and personal banking, credit, cross-border payments, and business management tools. The company is expanding strategically across Africa and internationally, with recent acquisitions in East Africa and restaurant-focused fintech enabling broader market penetration.
Cyborg Score Rationale
Founded in 2015, Moniepoint has grown into Nigeria's largest business banking platform, serving over 10 million active users and processing more than $250 billion in annual transaction value, with the company remaining profitable at scale—a rare feat among global fintechs. In October 2025, Moniepoint raised more than $200 million in a Series C funding round led by Development Partners International with backing from LeapFrog Investments, Visa, Google's Africa Investment Fund, and the International Finance Corporation, representing one of the largest equity fundraisings by an African fintech in 2025.
Top Insights
Recent product launches include MonieWorld, a remittance platform targeting the African diaspora in Britain, and a bookkeeping tool for micro and small businesses.
In March 2026, Moniepoint acquired Orda Africa to expand restaurant-focused fintech offerings and acquired 78% of Kenya's Sumac to accelerate East Africa expansion.
In June 2026, Moniepoint graduated the second cohort of its DreamDevs Bootcamp, deepening its investment in homegrown engineering talent as Nigeria's fintech sector grapples with a growing shortage of skilled software developers.
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.
Named Competitors
Stripe — Global payments infrastructure
PayPal — Digital payments and financial services
PayU — Emerging markets payment processing
Recent Developments
(October 2025) Completed $200 million Series C funding round led by Development Partners International
(March 2026) Acquired Orda Africa to expand restaurant-focused fintech offerings
(March 2026) Acquired 78% of Kenya's Sumac for East Africa expansion
(June 2026) Graduated second cohort of DreamDevs Bootcamp engineering talent program
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