Africa-based financial platform for businesses, Moniepoint, has raised more than USD 200 million in equity financing in a Series C funding round.
The investment highlights the company’s recent growth spurt, sustained by profitability, and will drive its mission to support businesses and their customers across Africa and the global diaspora.
Funding for growth
The funding round was led by Development Partners International’s African Development (ADP) III fund, and the final close was anchored by LeapFrog Investments, with additional participation from Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.
The funds will be utilised to drive the company’s growth across the continent and beyond, improving its ability to support African businesses and people in realising their financial dreams. The closing of the round comes as Moniepoint launched MonieWorld, a remittance solution for the African diaspora in the United Kingdom. The company also rolled out its integrated payment and bookkeeping solution, designed to simplify business operations for MSMEs.
This move sees Moniepoint expand its roster of blue-chip investors, which already comprises institutions including QED Investors, Novastar Ventures, Lightrock, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund. Partners from Development Partners International and LeapFrog Investments highlighted Moniepoint’s continued growth, innovation, and contribution to financial inclusion following its Series C funding. DPI emphasised its ongoing support for Moniepoint’s expansion across Africa, while LeapFrog underlined the company’s role in enabling MSMEs through digital financial tools and advancing Africa’s financial infrastructure.
Moniepoint achieved profitability at unicorn scale while driving financial inclusion. As a Nigerian payments and digital banking platform, its customer base exceeds 10 million active businesses and personal banking customers, and it processes over USD 250 billion in digital payment transaction value annually. The company was founded in 2015, initially focusing on building payment infrastructure and solutions for banks. Since then, it expanded its offerings to include digital payments, business and personal banking, credit, cross-border payments, and business management tools.
