Moniepoint
“Can a Nigerian agency-banking POS network become the all-in-one financial OS for African SMBs and their diaspora customers?”
Founded2015
HQLagos, Nigeria
FoundersTosin Eniolorunda, Felix Ike
Total raised$200M+ (Series C)
Latest roundSeries C top-up, October 2025
Valuation$1B+ (unicorn, 2024)
IndustryFintech / SMB banking
The story
Founded 2015 as TeamApt, an infrastructure provider for Nigerian banks. Pivoted to direct business banking around 2019 with a CBN switching license, ultimately rebranding as Moniepoint and dominating Nigerian SMB agency banking via POS terminals. Now expanding beyond Nigeria — Kenya via the Sumac acquisition, and the UK diaspora via MonieWorld remittances powered by a Visa Direct integration.
Last 12 months
Product timeline
2015
Founded as TeamApt providing infrastructure and payment solutions to Nigerian banks· pivot
2019
Received switching license from Central Bank of Nigeria· banking
2023
Launched Working Capital Loans for SMB merchants· lending
2024
Became a unicorn with $110M Series C led by DPI; Google joined as investor· banking
2025
Visa strategic investment; launched MonieWorld remittance product in UK-Nigeria corridor· pivot
2025
Entered Kenya via acquisition of Sumac Microfinance Bank· acquisition
2025
Series C extension of $90M led by LeapFrog Investments· banking
Regulated entities
3
regulatory licences held by Moniepoint
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Moniepoint’s embedded-finance stack
Payments / PSP
Moniepoint Payments (self-operated)Monnify (self-operated)POS terminal acquiring (self-operated)USSD payments (self-operated)Online checkout (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: significant
8 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.