Google and DPI back African fintech Moniepoint in $110M round
Moniepoint Secures $110M Funding
African fintech Moniepoint raises $110 million in new financing, with Google's Africa Investment Fund as a new investor.
Moniepoint's Growth Trajectory
The Series C round was led by Development Partners International's African Development Partners III fund, with other investors including Verod Capital and Lightrock.
Moniepoint's Business Offerings
Moniepoint provides business banking, payments, lending, and management tools to small and medium-sized businesses across Africa, primarily in Nigeria.
Moniepoint's Future Plans
The fintech plans to use the new funding to accelerate its growth across Africa and expand its digital payments, banking, foreign exchange, credit, and business management offerings.