Moniepoint Secures Series C Funding Led by DPI and Google to Expand Africa-Wide Business Platform

Tosin Eniolorunda, the Founder and Group CEO of Moniepoint Inc shared that Moniepoint just raised its Series C round, led by Development Partners International, with other investors like Google’s Africa Investment Fund, Verod Capital, and Lightrock.

He mentioned that the capital raised will accelerate their growth across Africa, as we build an all-in-one, seamlessly integrated platform for African businesses of all sizes. This platform will include services such as digital payments, banking, cross border payments, credit, and business management tools, making it a one-stop shop for business solutions.

We’ve been successful in helping Africans on the continent with the tools they need to manage their finance and grow their businesses. Now, we’re making this possible for every African, everywhere.

The investment conviction from Development Partners International (DPI), Google’s Africa Investment Fund, Verod, and Lightrock, speaks to Moniepoint’s impact so far in digital and financial inclusion, and our ability to foster economic activity and development. It also speaks to our growth and profitability, with our revenue at over 150% CAGR in recent years and industry-leading gross profit and EBITDA margins.

Excerpt from Moniepoint’s Blog Post