“Can a Nigerian agency-banking POS network become the all-in-one financial OS for African SMBs and their diaspora customers?”
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.
Moniepoint discloses Moniepoint Microfinance Bank (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Moniepoint does not disclose a bank charter of its own; its banking services are provided through Moniepoint Microfinance Bank (in-house).
Moniepoint processes payments through Moniepoint Payments (self-operated), Monnify (self-operated), POS terminal acquiring (self-operated), USSD payments (self-operated) and Online checkout (self-operated).
Moniepoint's cards are issued through Moniepoint (in-house) / Visa.
Moniepoint's lending and capital products are provided by Moniepoint MFB (in-house).
Moniepoint uses Visa Direct and MonieWorld (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 7 layers in Moniepoint's stack: Payments / PSP (Moniepoint Payments (self-operated), Monnify (self-operated), POS terminal acquiring (self-operated), USSD payments (self-operated) and 1 other); Banking / BaaS (Moniepoint Microfinance Bank (in-house)); Card issuing (Moniepoint (in-house) / Visa); Lending (Moniepoint MFB (in-house), Working Capital Loans and Overdrafts); Sponsor bank (Moniepoint Microfinance Bank (in-house)); FX & payouts (Visa Direct and MonieWorld (self-operated)); Spend / AP (Moniepoint Expense Cards (self-operated)).
Moniepoint was founded by Tosin Eniolorunda and Felix Ike and is founded in 2015, headquartered in Lagos, Nigeria.
Moniepoint has raised $200M+ (Series C) in total (latest round: Series C top-up, October 2025; valuation: $1B+ (unicorn, 2024)).
Get a read on where your own stack stands against Moniepoint and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.