Moniepoint, a Nigerian fintech company, has secured $90 million in additional cash to extend its footprints beyond its home country into the UK and Kenya in a capital raise taking its latest funding round to $200 million.
The fintech company, established ten years ago by software engineer and entrepreneur, Tosin Eniolorunda, had earlier sourced $110 million from investors in October 2024 in the first phase of its Series C round.
Ross Strike, the company’s senior vice president said in an interview according to a Bloomberg report on Tuesday, “We have seen more interest coming slowly from global investors, especially those that have seen other emerging markets, willing to underwrite the African growth story.”
Moniepoint plans to deploy the fund to scale up operations in Nigeria expand into UK and Kenya, he added.
Moniepoint’s latest capital raise now values the company in excess of $1 billion, though the Moniepoint top executive did not mention the exact valuation. According to the senior vice president, the company processes more than $250 billion in annual transactions, with most revenue coming from Nigeria. Over the medium to long term, Moniepoint aims to operate in five African countries.
As part of its African expansion push, Moniepoint recently got a key regulatory approval to acquire a 78 percent controlling stake in Nairobi-based Sumac Microfinance Bank Limited in June 2025.
Moniepoint has been a core part of the digital banking wave in Nigeria, powering Africa’s young and fast-growing population’s shift towards technology-driven financial services.
The company gained unicorn status – the league of tech-driven start-ups with a minimum valuation of $1 billion – last year after the Series C round.
