LAGOS – Nigerian fintech giant Moniepoint Inc. has raised over $200 million in a Series C funding round led by Development Partners International (DPI), aiming to expand its digital financial services across Africa and beyond.

The round also saw participation from LeapFrog Investments, Visa, Google’s Africa Investment Fund, International Finance Corporation (IFC), Lightrock, Alder Tree Investments, Proparco, Swedfund, and Verod Capital Management. Financial Technology Partners acted as exclusive adviser to Moniepoint.

Moniepoint, formerly TeamApt, plans to use the funds to enter new markets and enhance offerings for small and medium-sized enterprises (SMEs), which are central to Africa’s informal economy. The company recently launched MonieWorld, a remittance platform for the African diaspora in the UK, and a bookkeeping tool for micro and small businesses.

Co-founder and CEO Tosin Eniolorunda said, “This funding will help us accelerate our mission to widen financial inclusion and support African entrepreneurs in realizing their potential.”

Founded in 2015, Moniepoint now serves over 10 million active users and processes more than $250 billion in annual transaction value, remaining profitable at scale – a rare achievement for global fintechs.

DPI partner Adefolarin Ogunsanya highlighted Moniepoint’s combination of innovation and sustained profitability, while LeapFrog’s Karima Ola emphasized the alignment with building inclusive financial infrastructure across Africa.

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Key Points:

• Series C funding: $200 million
• Lead investor: Development Partners International
• Other participants: Visa, Google Africa Investment Fund, LeapFrog, IFC, and more
• Expansion focus: New African markets, SME services, digital remittances
• Users: 10 million+ active users; $250B+ annual transactions