For the second year in a row, Africa's leading digital financial services provider, Moniepoint Inc, has announced its listing in the sixth annual CB Insights’ Fintech 100 ranking (previously the Fintech 250), showcasing the 100 most promising private fintech companies of 2023. CB Insights is regarded by top industry analysts as the most trusted source for technology market insights. The Fintech 100 includes a mix of companies at different stages of maturity, product development, and funding. The cohort has raised nearly $22B in equity funding across 381 deals since 2019.
Utilizing the CB Insights platform which fuses machine learning, algorithms, data and visualizations, the research team selected these Fintech 100 winners from a pool of more than 19,000 private companies, including applicants and nominees. These companies were chosen based on factors, including equity funding, investor profiles, business relationships, R&D activity, news sentiment analysis, competitive landscape, and proprietary Mosaic scores, as well as criteria such as tech novelty and market potential.
“We are honored to be recognized by CB Insights as one of the top 100 fintech companies of 2023. This listing validates our unwavering commitment towards powering dreams and driving financial happiness for everyone. It is also a strong reflection on our momentum in terms of growth, innovation and making a real difference in the marketplace,” said Tosin Eniolorunda, Group CEO of Moniepoint Inc.
He continues, “our team has worked tirelessly to deliver innovative solutions that empower individuals and businesses across Africa with accessible, efficient, and secure digital financial services. This recognition is testament to our efforts in enhancing financial inclusion and transforming the lives of millions across the continent.”
It will be recalled that Moniepoint Inc which has been named as Africa’s second fastest-growing company by the reputable Financial Times servicing over 1.7 million businesses, and helping them process over $100 billion in 2022.
Representing 24 different countries across the globe, this year’s Fintech 100 is shaping the future of real-time payments, spend management automation, embedded finance, and more,” said Chris Bendtsen, Lead Fintech Analyst, CB Insights. “Together, they are not only increasing the pace of innovation, but launching new products and features to revolutionize the industry as a whole. I cannot wait to see what this cohort accomplishes next.”