Development Partners International has led a $110 million investment round in Nigerian fintech Moniepoint, joined by investors like Google’s Africa Investment Fund, Verod Capital, and Lightrock.
This elevated Moniepoint to unicorn status.
Moniepoint, originally TeamApt, pivoted to agency banking before expanding into digital banking, now processing $17 billion monthly.
The funds will accelerate its African expansion, beginning with the acquisition of KopoKopo in Kenya. DPI’s Adefolarin Ogunsanya praised Moniepoint’s growth, and CEO Tosin Eniolorunda emphasized the mission to advance financial inclusion across Africa.
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