Moniepoint Secures $90M Funding Boost for Global Fintech Expansion
Nigerian fintech giant, Moniepoint Inc., has successfully raised an additional $90 million in funding, bringing its total Series C round to an impressive $200 million. This significant investment signals the company’s ambitious plans to accelerate its expansion across the African continent and into international markets, solidifying its position as a major player in the global fintech landscape. The fresh capital injection will fuel Moniepoint’s strategic growth initiatives and strengthen its presence in key regions.
Strategic Investments and Expansion Plans
This round of funding saw strong backing from prominent investors, including Visa Inc., LeapFrog Investments, Development Partners International (DPI), and Alphabet Inc.’s Google Africa Investment Fund, highlighting the confidence in Moniepoint’s business model. The funds will be strategically utilized to fortify Moniepoint’s existing operations in Nigeria, Kenya, and the United Kingdom. Furthermore, the company plans to expand its pan-African reach, targeting at least five additional African countries in the medium term. Established in Lagos in 2015, Moniepoint has quickly become a leader in providing comprehensive banking, payment processing, and remittance services tailored to small businesses and individuals. The fintech firm currently processes an astounding $250 billion in annual transactions, a testament to its market dominance and the critical services it provides.
Moniepoint’s management is looking forward to the next chapter of the company.
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