Moniepoint was founded in 2015 by business executives
Tosin Eniolorunda and Felix Ike. It was initially founded under the name, TeamApt. In March 2019, Moniepoint announced funding of $5.5 million in a Series A fundraising from Quantum Capital Partners. In November 2019, Moniepoint received a switching license from the
Central Bank of Nigeria. In 2021, the company announced an undisclosed capital in a Series B Funding round led by Novastar Ventures. It also fundraised the $50 million in pre-series C funding led by QED investors. In March 2023, Moniepoint led the $3 million seed investment round for Nigerian
neobank Payday. In July 2023, the company launched a personal banking service. In 2023, Moniepoint got listed by the
Financial Times as the
Second-Fastest Growing Company in Africa. In October 2024, Moniepoint became the African continent's eighth unicorn after it announced a US$110 million Series C funding round. Development Partners International’s African Development Partners (ADP) III fund, Google’s Africa Investment Fund led the round. Lightrock also participated in the round. In 2025, the company announced an extension of its Series C round, raising an additional $90 million and bringing the total Series C funding to over $200 million. ==References==