Nigerian fintech unicorn, Moniepoint, has fix a strategic funding from Visa, an international cost corporate, to force its growth throughout Africa and empower companies with leading edge cost answers.
This funding follows the corporate’s extremely a success $110 million layout C investment spherical, which tripled its valuation to over $1 billion in October 2024.
The nine-year-old fintech stated in a remark to The PUNCH on Thursday that the partnership combines its native experience and leading edge industry fashion with Visa’s international assets and features.
Each companies attempt to boost up the virtual transformation of African SMEs, using monetary inclusion and long-term financial prosperity.
The company cited its robust operational and monetary monitor report as key elements in its place as a well-known participant within the African fintech ecosystem.
Founder and Staff CEO of Moniepoint Inc., Tosin Eniolorunda, stated, “Visa’s backing is a robust endorsement of our optic to digitise and aid African companies at scale.
“In combination, we attempt to deepen monetary inclusion, enabling SMEs to get right of entry to the equipment and assets they wish to thrive in an increasingly more virtual economic system.
“Given that, about 83 per cent of employment across Africa is in the informal economy, we are very keen to widen access and participation in the formal financial system and drive economic growth across Africa.”
He persevered, “Visa’s experience in international bills and Moniepoint’s confirmed skill to provide African companies put together this partnership an exhilarating alternative in shaping the continent’s financial life at the same time as we pave the best way for a extra inclusive and dynamic monetary ecosystem.
“We are delighted to join forces with Visa to enhance the digital payment infrastructure, expand financial services, and foster innovation in Africa.”
The Regional President, Central and Jap Europe, Heart East and Africa at Visa, Andrew Torre, said that Moniepoint has constructed an remarkable platform that immediately addresses the wishes of Africa’s SMEs, a vital department in enabling economic expansion.
He stated by means of making monetary products and services and virtual bills extra available and environment friendly, Moniepoint helps turn into how companies perform in Nigeria and past.
“We’re excited to aid their upcoming section of expansion and innovation. Visa’s funding in Moniepoint is the untouched instance of our long-standing loyalty to advancing virtual economies in Africa.
“We will enable even the smallest businesses to thrive through innovative payment and software solutions that allow SMEs to scale and open new revenue opportunities, while streamlining their operations,” Torre famous.