Moniepoint began in Lagos in 2015 with a clear, ambitious goal: to create a society where everyone experiences financial happiness by providing small and medium-sized enterprises (SMEs) with the financial tools to grow. Today, headquartered in London, with offices in Wilmington, Delaware, and Lagos, the company has evolved into one of Africa’s largest business banking platforms. Serving over 10 million businesses and individuals, Moniepoint processes more than 800 million transactions worth $17 billion each month—and it does so profitably. Its journey from a Nigerian fintech upstart to a unicorn with global ambitions reflects how capital, innovation, and mission-driven leadership are reshaping financial services across the continent.
From Merchant Payments to a Full-Service Ecosystem
Co-founded by Tosin Eniolorunda and Felix Ike, Moniepoint started by solving one of Nigeria’s most pressing challenges—reliable, accessible merchant payments. Over the years, it expanded its offerings to include business bank accounts, POS terminals, merchant acquiring, expense cards, spend management tools, working-capital loans, and the Monnify online payment gateway with offline collection capabilities. The platform has since moved into personal banking and cross-border remittances, most notably through MonieWorld in the UK, serving Africans abroad who support family and business at home. This broad suite of products now forms a one-stop ecosystem for SMEs navigating Africa’s rapidly digitizing economy.
Technology and Scale Drive Financial Inclusion
Moniepoint’s infrastructure is designed for scale in challenging environments. By combining its extensive agent network with a robust digital backbone, it enables transactions in both urban centers and underserved rural markets. The company’s operational model allows SMEs to access credit, streamline expenses, and digitize operations seamlessly. As Nigeria’s largest merchant acquirer, it powers a majority of POS transactions nationwide, while also enabling billions in online payments each month.
Backed by Global Investors and Strategic Partners
Moniepoint’s growth has been fueled by a mix of impact-driven and commercial capital. Investors include Quantum Capital Partners, Novastar Ventures, Verod Capital, Google’s Africa Investment Fund, Endeavor, and Visa. In October 2024, the company closed a $110 million Series C round led by Development Partners International’s ADP III, with participation from Google and Lightrock. In January 2025, Visa made a strategic investment to accelerate SME inclusion and digital payments across Africa, cementing Moniepoint’s role as a critical partner in advancing the continent’s financial infrastructure.
Recognition and Awards
Moniepoint’s impact has earned it global recognition. In June 2025, it debuted on the TIME100 Most Influential Companies list for empowering SMEs and driving financial inclusion, alongside winning two IBS Intelligence Digital Banking Awards—for Corporate Banking and Digital Wallets—recognizing its scalable, high-impact solutions. For three consecutive years, the Financial Times has named Moniepoint one of Africa’s fastest-growing companies.
Leadership for the Next Phase
Under the leadership of Founder & Group CEO Tosin Eniolorunda—an industry veteran who programmed Nigeria’s first POS software—Moniepoint continues to blend vision with execution. He is joined by Co-founder & CTO Felix Ike, a seasoned technologist, and Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank. Together, they lead a team of over 1,800 employees in building a platform that aims to generate over $1 billion in annual revenue while transforming SME access to financial services.
From its roots in Lagos to its position as a London-based unicorn, Moniepoint has built a pan-African fintech infrastructure that is both profitable and purpose-driven. Its blend of innovative products, vast reach, and strong investor backing has positioned it as a bellwether for Africa’s fintech future—and a key player in bridging the financial inclusion gap across emerging markets.