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Visa Invests in Moniepoint Again, Adding to $110 Million Raised Just Three Months Ago

In a fast-evolving fintech landscape where every move can signal the start of a game-changing shift, Moniepoint’s recent funding round with Visa has the potential to reshape the future of digital payments across Africa and beyond. Just three months after raising $110 million in a highly successful Series C round, the Nigerian fintech company has once again captured the financial world’s attention with another substantial investment—this time from Visa.

This new partnership underscores the growing demand for innovative payment solutions in emerging markets, particularly in Africa, where digital payment adoption has skyrocketed over the past few years. But what does this fresh funding round mean for Moniepoint, Visa, and the broader fintech ecosystem? And what are the potential long-term implications for the African digital payments landscape?

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The State of Fintech in Africa: A Booming Industry

Before diving into Moniepoint’s most recent milestone, it’s essential to understand the broader context of fintech’s growth in Africa. The African continent is experiencing a rapid fintech boom, driven by several factors: an increasingly tech-savvy young population, rising internet penetration, and a growing number of people with access to smartphones.

According to GSMA, mobile money transactions in sub-Saharan Africa reached $490 billion in 2020, with the market expected to grow exponentially in the coming years. More than 50% of adults in sub-Saharan Africa now use mobile money services, a statistic that reflects the region’s leap into digital finance. Additionally, the global fintech market is projected to reach $309.98 billion by 2026, growing at a compound annual growth rate (CAGR) of 23.58%. In this booming market, Moniepoint has positioned itself as one of the front-runners in transforming financial inclusion and payment accessibility.

Moniepoint’s Journey So Far

Moniepoint, founded in 2019 as a subsidiary of TeamApt, is a prominent Nigerian fintech company that has been making waves in the payments space. Unlike many fintech startups, Moniepoint’s focus lies in providing an array of solutions to underserved businesses and individuals, particularly through digital payments, remittances, and financial services for SMEs (small and medium-sized enterprises). With more than 500,000 active businesses using its services and an expanding presence in other African markets, the company has rapidly become a fintech powerhouse.

Moniepoint’s growth trajectory has been impressive, and the company’s focus on solving critical challenges in payments and banking has garnered the attention of major investors. The fintech firm first hit the spotlight with its $110 million Series C funding round in October 2024, led by international venture capital firms, including QED Investors and Valar Ventures. This round was instrumental in expanding Moniepoint’s infrastructure, enhancing its product offerings, and supporting its push into new African markets. Now, in early 2025, just three months after its Series C, Moniepoint has secured fresh funding from none other than Visa, one of the world’s largest payment networks. This partnership and investment from Visa mark a critical milestone in Moniepoint’s mission to democratise digital payments in Africa and bring banking services to the underserved population.

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The Visa Investment: What It Means for Moniepoint

Visa, a global leader in payments technology, has long recognised the vast potential of the African fintech market. The company’s strategic partnership with Moniepoint highlights its belief in the promising future of mobile and digital payments across the continent. This investment comes at a time when Visa is heavily investing in expanding its presence in emerging markets, particularly Africa. This deal signifies more than just a financial injection. It also represents an opportunity for Moniepoint to further solidify its position as a leading payment platform, gaining access to Visa’s global network and resources. With Visa’s backing, Moniepoint will be able to accelerate the deployment of its technology, improve its scalability, and provide more comprehensive payment services to both businesses and consumers across the continent.

According to Visa’s Annual Report, the company continues to see exponential growth in Africa, with over 1 billion transactions processed in the region annually. Visa’s strategic interest in Moniepoint is not just about securing market share in Africa but about enabling growth in digital payments for an underserved market, leveraging Moniepoint’s innovative solutions and local market expertise.

Impact on the African Payments Ecosystem

Moniepoint’s partnership with Visa is a significant milestone in the African fintech ecosystem. For years, Africa has lagged behind other regions in terms of financial inclusion, with a large portion of the population still unbanked or underbanked. However, fintech companies like Moniepoint are gradually bridging that gap by offering affordable, accessible, and secure digital financial services.

Moniepoint’s digital payment solutions—ranging from point-of-sale (POS) terminals to mobile wallets and business management tools—have proven to be invaluable for local businesses, particularly small and medium-sized enterprises (SMEs), which account for over 90% of businesses in Africa. According to McKinsey, SMEs in sub-Saharan Africa employ around 60% of the workforce and contribute significantly to the region’s GDP. Despite their importance, many of these businesses struggle to access reliable banking services, and digital payments are often seen as an expensive or inaccessible option. Moniepoint is helping to change this narrative. The Visa partnership will help Moniepoint scale its operations to meet the growing demand for digital payments across Africa. The fresh funding will likely be channelled into expanding its customer base, refining its technology, and enhancing its suite of financial services. Moniepoint aims to expand its services to at least 20 countries across Africa by the end of 2025, which could further cement its role as a leading fintech in the region.

How Moniepoint is Shaping the Future of Payments

Moniepoint’s offerings go beyond simple payment processing. The company has been building an ecosystem that supports a wide range of business functions, from financial management to access to working capital. Here’s how Moniepoint is influencing the future of payments in Africa:

  1. SME Empowerment: Moniepoint’s payment solutions are designed specifically with SMEs in mind. Many small businesses in Africa are still reliant on cash transactions, which can be inefficient, insecure, and difficult to scale. Moniepoint’s seamless digital payment systems help businesses go cashless, reducing the risks and inefficiencies associated with traditional payments.
  2. Financial Inclusion: According to the World Bank, around 66% of adults in sub-Saharan Africa do not have access to formal financial services. Moniepoint is working to close this gap by providing low-cost, easy-to-use financial services that cater to the unbanked population. Through mobile wallets and digital payment tools, Moniepoint is enabling people without access to traditional banking services to participate in the digital economy.
  3. Cross-Border Transactions: As one of Africa’s largest payment networks, Moniepoint is focused on improving cross-border payments, which have traditionally been costly and inefficient. The partnership with Visa will allow Moniepoint to enhance its ability to facilitate fast, secure, and affordable cross-border transactions, which is crucial in a region with such a high level of informal trade.
  4. Scalability and Innovation: The infusion of capital from Visa will help Moniepoint scale its operations, accelerate product development, and drive innovation. This means more access to cutting-edge fintech solutions for African businesses and consumers, ultimately driving economic growth.

Visa’s Long-Term Vision for Africa

Visa’s investment in Moniepoint is also a reflection of its broader strategy in Africa. In recent years, Visa has made significant investments in African fintech, focusing on growing its digital payment infrastructure and expanding its network. With the increasing demand for contactless payments, mobile wallets, and digital banking solutions, Visa’s interest in fintech companies like Moniepoint is a natural extension of its strategy to drive digital payment adoption on the continent.

As part of its vision for the future, Visa is also exploring blockchain technologies and partnerships with local fintech firms to drive more inclusive growth. With fintech companies like Moniepoint leading the charge, Visa has the opportunity to tap into a rapidly expanding market and become a critical player in Africa’s growing digital economy.

Looking Ahead: What’s Next for Moniepoint?

Moniepoint’s future appears exceptionally promising, with plans to scale its operations and expand its product offerings across the continent. The recent funding from Visa, along with the backing from other investors in its Series C round, sets the stage for further innovation and growth. The company’s roadmap includes expanding its payment solutions to more African countries, improving financial inclusion for underserved communities, and offering more advanced business management tools. With Visa’s support, Moniepoint is poised to expand its global footprint and bring more African businesses into the digital payments fold.

As Moniepoint continues to build its presence, the company’s success will not only impact the future of payments in Africa but also serve as a blueprint for other fintech companies looking to solve the continent’s most pressing financial inclusion challenges.

Conclusion

Moniepoint’s fresh funding from Visa, following its recent $110 million Series C round, underscores the growing potential of Africa’s fintech market. With innovative solutions and a focus on empowering small businesses and underserved communities, Moniepoint is playing a pivotal role in the continent’s digital transformation. As the company scales its operations with the backing of Visa, it’s set to redefine the payments landscape and make significant strides in bringing financial inclusion

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TAGiAfrica™ is a Web3 Magazine that is documenting the African journey in the crypto and blockchain industry for over a decade. We are the Pan-African magazine that covers business, technology, Blockchain, Crypto and Innovation.We are the essential resource for anyone who wants to stay up-to-date on the latest trends in Africa. The magazine is also a valuable resource for businesses that are looking to expand into Africa and committed to promoting African entrepreneurship and innovation.

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