Moniepoint started as TeamApt in 2015. In October 2024 it became Africa’s eighth unicorn.
A Lagos fintech serving merchants, Moniepoint won a central bank switching licence in 2019 and raised over 200 million dollars in its Series C.
Moniepoint, originally called TeamApt, is a Nigerian fintech company based in Lagos. Business executives Tosin Eniolorunda and Felix Ike founded it in 2015. It provides banking services and loans through an online banking app.
Step by step
- March 2019: a 5.5 million dollar Series A from Quantum Capital Partners.
- November 2019: a switching licence from the Central Bank of Nigeria.
- 2021: a Series B led by Novastar Ventures, then a 50 million dollar pre-Series C led by QED Investors.
- July 2023: launch of personal banking.
- 2023: named the Financial Times’ second-fastest growing company in Africa.
The unicorn year
In October 2024 it became the eighth unicorn on the continent, valued at over 1 billion dollars, after announcing a 110 million dollar Series C round. In 2025 it added a further 90 million dollars, taking the total Series C to over 200 million dollars. In January 2026 the Central Bank of Nigeria upgraded the operating licence of its microfinance bank subsidiary to national status.
Moniepoint is a clear case of getting the unglamorous parts right first, licences and merchant payments, before adding banking and credit on top.
