Moniepoint, Nigeria’s leading fintech company, has successfully closed an additional $90 million in its Series C funding round, bringing the total raised to $200 million and propelling its valuation to over $1 billion. This extension underscores the company’s robust growth trajectory and investor confidence in its business model.
The latest funding round was led by Development Partners International’s African Development Partners (ADP) III fund, with participation from Google’s Africa Investment Fund and Lightrock, a global impact investment firm. This strategic investment positions Moniepoint to further expand its suite of financial services, including its flagship offerings, AptPay and MoneyTor.
Moniepoint has demonstrated significant operational success, processing over 800 million transactions annually, with a total monthly transaction value exceeding $17 billion. The company serves a vast network of merchants and consumers, solidifying its position as a cornerstone of Nigeria’s digital economy.
With the infusion of capital, Moniepoint plans to enhance its technological infrastructure, broaden its service offerings, and extend its reach across Africa. The company’s commitment to financial inclusion and innovation positions it as a key player in the continent’s fintech landscape.
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