Africa’s fintech revolution has entered a new phase as Nigerian-born Moniepoint secured an additional $90 million in funding, extending its latest investment round to $200 million. Backed by Visa, Alphabet’s Google Africa Investment Fund, and Development Partners International, the fast-growing digital bank is positioning itself as one of the continent’s most influential financial technology players. The funding signals strong investor confidence in Africa’s expanding digital economy and the growing demand for accessible, tech-driven financial services.
Since its founding in 2015, Moniepoint has evolved from a payments processor into a full-scale financial platform serving millions of individuals and small businesses. Its mission—to provide affordable, reliable banking to the underbanked – has resonated deeply in a market where financial exclusion has long constrained growth. By simplifying payments, lending, and digital transactions, the company has helped reshape financial access across Nigeria and now sets its sights on regional and international markets, including Kenya and the United Kingdom.
This development highlights a broader shift within the financial sector: Africa’s digital banks are no longer seen as niche disruptors but as infrastructure builders. Their technology-first approach, cost efficiency, and rapid scalability are drawing global capital, with international investors viewing African fintech as both profitable and socially transformative. Visa’s continued involvement underscores how traditional financial giants are partnering with agile innovators to deepen inclusion and expand their reach into emerging markets.
For the wider banking and finance industry, Moniepoint’s success represents a model for future growth. The convergence of capital, technology, and social purpose is redefining competitiveness, with customer-centric innovation taking precedence over legacy infrastructure. As digital banking accelerates, financial institutions that adapt – through partnerships, product innovation, and investment in inclusion – will shape the next generation of banking in Africa and beyond.
Moniepoint’s latest round is more than a funding milestone; it is a signal that Africa’s fintech ecosystem is maturing. The continent’s financial future is being written not in boardrooms, but in the code of digital banks that bring prosperity within reach of millions.
