Moniepoint, Led By Tosin Eniolorunda, Receives Visa Backing After Reaching 1 Billion Valuation
- Moniepoint secures Visa backing to advance financial inclusion and boost Africas digital payments ecosystem.
- Visas support comes after Moniepoint raised 110 million in its Series C round, pushing its valuation beyond 1 billion.
- The partnership aims to empower Africas SMEs by improving digital payment access, driving economic opportunities, and supporting underserved communities.
Nearly three months after achieving a 1 billion valuation , Moniepoint Inc., a financial software company founded by Nigerian tech entrepreneur Tosin Eniolorunda, has received a strategic investment from global payments leader Visa Inc.
This investment signals the beginning of a partnership between Visa and Moniepoint, a collaboration that could reshape Africas digital payments landscape. Together, the two companies aim to address the financial inclusion challenges faced by millions of small and medium-sized enterprises SMEs across the continent.
A collaboration to empower Africas SMEsVisas support builds on Moniepoints impressive growth, which reached new heights in October 2024 when the company raised 110 million in its Series C funding round, attracting investors like Google and pushing its valuation past 1 billion.
With 83 percent of Africas workforce employed in the informal economy, Visas investment reflects its commitment to driving financial inclusion and supporting SMEs. By providing better access to digital payments, the collaboration seeks to unlock economic opportunities and create a stronger foundation for underserved communities.
This partnership aligns perfectly with our mission to empower businesses with robust payment, banking, and credit solutions, said Tosin Eniolorunda, Moniepoints founder and Group CEO. Visas global expertise will help us break down barriers and expand financial access to communities across Africa that need it most.