Moniepoint, a leading Nigerian fintech company, has announced the successful closing of a $110 million Series C funding round.
This significant investment will empower the company to accelerate its growth trajectory and expand its footprint across the African continent.
Led by Development Partners International’s African Development Partners (ADP) III fund, the funding round also saw participation from prominent investors including Google’s Africa Investment Fund, Verod Capital, and returning investor Lightrock.
With this fresh infusion of capital, Moniepoint aims to strengthen its position as a dominant player in the African fintech landscape. The company plans to invest heavily in technology, talent acquisition, and strategic partnerships to drive innovation and enhance its product offerings.
By expanding its reach to new markets, Moniepoint seeks to provide a wider range of financial solutions to individuals and businesses across Africa. This includes introducing new products and services such as cross-border remittances and comprehensive banking solutions to meet the evolving needs of its customers.
Since its inception in 2015, Moniepoint has emerged as a leading provider of financial technology solutions in Nigeria. The company offers a comprehensive suite of products and services, including payment processing, merchant acquiring, and business banking solutions. By leveraging technology and a customer-centric approach, Moniepoint has empowered millions of individuals and businesses to access financial services and drive economic growth.
This latest funding round underscores the immense potential of the African fintech market and highlights Moniepoint’s commitment to shaping the future of financial services on the continent.
by Tony O. Lawson
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