Nigeria-based fintech company Moniepoint has officially joined the ranks of African unicorns after securing $110 million in funding from notable investors, including tech giant Google. This funding round elevates Moniepoint’s valuation to over $1 billion, underscoring its impressive growth in the financial technology sector. The company plans to utilize this substantial investment to expand its digital payment and banking services across Africa, addressing a growing demand for accessible financial solutions.
Moniepoint, which started as a digital payment provider, has expanded its range of services to include business banking, aiming to empower small businesses and entrepreneurs throughout the continent. With this latest investment, the company plans to improve its infrastructure, expand its service offerings, and strengthen its market position in Africa’s fast-growing fintech industry. Moniepoint’s goal is to bridge the gap in financial access across Africa, providing both businesses and individuals with secure and convenient financial services.
This milestone reflects the growing appeal of Africa’s fintech industry among global investors. Moniepoint’s success is indicative of the continent’s potential to produce globally competitive tech enterprises, which are increasingly attracting international attention and funding.
