Hi everyone, I’m pleased to share that Moniepoint just raised its Series C round, led by Development Partners International, with other investors like Google’s Africa Investment Fund, Verod Capital, and Lightrock.

Since 2015, our team has used technology to transform the financial experience for millions of people, both directly and indirectly. We’ve done this very successfully, and today, we’re Nigeria’s largest merchant acquirer and in-person payments platform, with 2 out of 3 adults in Nigeria making payments via a moniepoint terminal. Moniepoint currently processes over 800 million transactions, with a monthly total value exceeding US$17 billion, while operating profitably.

This raise is important firstly to the team as a validation of our grit and commitment over nearly a decade of work. I’m proud of every team member—now over 2,000 of us in 20+ countries—whose tireless devotion to our mission has made this possible. Our hard work has paid off, but with the size of our dreams, this still feels like Day One.

Why have we raised?

The capital raised will accelerate our growth across Africa, as we build an all-in-one, seamlessly integrated platform for African businesses of all sizes. This platform will include services such as digital payments, banking, cross border payments, credit, and business management tools, making it a one-stop shop for business solutions.

We’ve been successful in helping Africans on the continent with the tools they need to manage their finance and grow their businesses. Now, we’re making this possible for every African, everywhere.

The investment conviction from Development Partners International (DPI), Google’s Africa Investment Fund, Verod, and Lightrock, speaks to Moniepoint's impact so far in digital and financial inclusion, and our ability to foster economic activity and development. It also speaks to our growth and profitability, with our revenue at over 150% CAGR in recent years and industry-leading gross profit and EBITDA margins.

This raise marks a new beginning for us, as we push the boundaries of access to formal financial systems to the informal sector, which still accounts for over 83% of employment across Africa.

We believe in a world where every African, everywhere, can enjoy financial happiness, and we’re committed to making this a reality.