Moniepoint

What Moniepoint does

Moniepoint Inc. (formerly TeamApt Inc.) is a London-headquartered, Delaware-incorporated fintech operating through its CBN-licensed subsidiary, Moniepoint Microfinance Bank Limited, in Nigeria. Founded in 2015 by Tosin Eniolorunda and Felix Ike, the company provides an all-in-one platform spanning payments, banking, credit, cross-border remittances, and business management software targeting Nigerian MSMEs, individual consumers, agent banking operators, and diaspora users. Its core technology stack includes proprietary POS terminal hardware with dynamic transaction switching delivering 99.9% uptime, the Monnify payment gateway integrated with 27 Nigerian banks, and the Moniebook restaurant management platform.

The company monetizes through multiple streams: transaction fees on POS and digital payments (its ~80% share of Nigeria's in-person POS market implies a take rate on billions of transactions), interest income from working capital loans and overdrafts (N1 trillion/$720M disbursed in 2025 with sub-1% historical default rates), float on free banking accounts, B2B gateway fees via Monnify (N25 trillion/$18.3B processed in 2025), cross-border remittance fees via MonieWorld, and emerging SaaS revenue from Moniebook. Distribution is omnichannel: field-deployed POS terminals (one activated every 30 seconds), a 1M+ cash-in/cash-out agent network spanning all 774 Nigerian LGAs, mobile and USSD self-serve banking (*5573#), and licensed banking operations in the UK (via acquired Bancom EMI) and Kenya (via 78%-owned Sumac Microfinance Bank).

Following its $200M Series C in 2024-2025 the company is valued above $1B and self-reports as Africa's first profitable fintech unicorn. Recent strategic moves include three acquisitions in the past year (Bancom, Sumac, Orda), regulatory upgrades to a National Microfinance Bank License, and aggressive credit expansion. Principal risks are regulatory: the CBN's new market concentration rules taking effect December 31, 2026 cap merchant-acquiring share at 15% and could force divestiture or restructuring of its dominant POS franchise.

Name

Moniepoint

Legal name

Moniepoint Inc.

Website

https://moniepoint.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Moniepoint is a London-headquartered Nigerian fintech operating a CBN-licensed all-in-one platform delivering payments, banking, credit, and business management tools to 20 million+ MSMEs, consumers, and diaspora customers across Nigeria, the UK, and Kenya.

Ownership category

akta.pro rank

Product category

Digital Banking and Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC)

akta.pro secondary industries

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE), Corporate Treasury & Supplier Payments (AP, Mass Payments) (FSAMAKAL)

Keywords

• Digital payments processing
• Merchant acquiring services
• Microfinance banking
• Small business lending
• Agent banking network

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Payment Transaction Fees: Moniepoint charges transaction fees on POS and digital payment processing. As Nigeria's largest merchant acquirer with ~80% of in-person POS market share, the company earns a take rate on billions of monthly transactions across its terminal network and digital channels.
2. Credit/Lending: Moniepoint provides working capital loans and overdrafts to businesses and agents, earning interest income. Disbursed over N1 trillion ($720 million) in credit to Nigerian SMEs in 2025. Revolving credit facilities are sized to transaction volume passing through accounts.
3. Banking Services: Free business and personal bank accounts generate revenue through float, cross-sell of financial products, and transaction activity. Interest earned on deposits and credit products.
4. Cross-Border/Remittance Services: MonieWorld provides international remittance services for the diaspora, particularly the UK-Nigeria corridor. Revenue generated through transfer fees and currency exchange margins. Funke Akindele partnership used to promote diaspora remittances.
5. Monnify Payment Gateway (B2B): Monnify processes N25 trillion (US$18.3 billion) annually for 100,000+ merchants including PiggyVest, Cowrywise, OmniRetail. Revenue from gateway transaction fees.
6. Business Management Software (Moniebook): Integrated POS and inventory management for restaurants, providing bundled payments, bookkeeping, and operational tools. Revenue opportunities through SaaS subscriptions and increased payment volume from restaurant merchants.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels8 records

Core offering

Moniepoint provides an all-in-one payments, banking, credit, and business management platform for African businesses and consumers. Its core offerings include POS terminals and payment processing infrastructure for merchants, free business and personal bank accounts, working capital loans, the Monnify payment gateway for B2B merchants, and the MonieWorld cross-border remittance platform. The company activates a new POS terminal every 30 seconds, serves over 20 million accounts, and processes $250 billion+ in annual transaction value.

Differentiator

Problem solved

Functional benefit

Brands

• Moniebook: All-in-one POS and business management platform providing inventory management, bookkeeping, payments, and credit access for merchants. Originally launched in 2025.
• MonieWorld
• Monnify
• DreamDevs

Products and services

• POS Terminal Payment Acceptance Physical POS terminals deployed to merchants across all 774 Nigerian local government areas for accepting card and bank transfer payments, with one new terminal activated every 30 seconds on average and 99.9% uptime reliability through proprietary dynamic transaction switching.
• Business Banking Account Free bank accounts for business owners to manage finances, receive payments, earn up to 17.5% interest p.a. on savings, and access working capital loans — available to Nigerian MSMEs including shops, supermarkets, and restaurants.
• Personal Banking Account Free personal bank accounts for individual Nigerians featuring instant debit cards, phone number as account number, savings accounts earning up to 18% interest per annum, cash transfers, and bill payments.
• Working Capital Loans Revolving credit facility for businesses ranging from 7 to 120 days, with loan amounts pre-qualified based on business transaction volume passing through Moniepoint accounts and reportedly achieving zero defaults. Over N1 trillion ($720M) disbursed to SMEs in 2025.
• Monnify Payment Gateway B2B payment gateway and virtual account infrastructure processing N25 trillion (US$18.3B) in 2025, integrated with 27 Nigerian commercial banks and serving 100,000+ merchants including PiggyVest, Cowrywise, OmniRetail, Olam, GIGM, and MAX.
• MonieWorld Cross-Border Remittance Cross-border remittance and digital financial services for the Nigerian diaspora, particularly the UK-Nigeria corridor, with sterling accounts issued via Bancom EMI starting December 2025.
• Moniebook Restaurant Management Unified POS and inventory management platform for restaurants and food service businesses, integrating payments, bookkeeping, order management, supplier payments, and working capital access within a single platform.
• USSD Banking Service (*5573#) USSD-based banking service accessible via *5573# for offline transactions, enabling account access, transfers, and bill payments on feature phones without internet connectivity.

Quantifiable outcome

• Disbursed over N1 trillion ($720 million) in loans to Nigerian SMEs in 2025, with zero defaults reported on working capital loan product.
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability8 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Sanitary Aid for Nigerian GirlsminorOthers · 16 June 2026Moniepoint partnered with Sanitary Aid for Nigerian Girls to commemorate 2026 World Menstrual Hygiene Day, empowering 500 girls at New Era Girls Secondary School in Surulere, Lagos with sanitary kits, menstrual health education, and life skills.
• Pi-CNG & EVs / CREDICORPcoreStrategic or Co-development Partner · 22 April 2026Pi-CNG signed MOU with CREDICORP, Moniepoint MFB, and the National Credit Guarantee Company to provide affordable financing for CNG vehicle conversion. Enables commercial drivers to convert vehicles by repaying costs over six months at 9-20% interest rates. Moniepoint contributes to credit delivery and financial services infrastructure for the CNG conversion initiative targeting 100,000 vehicles.
• Funke AkindeleminorGTM or Marketing Partner · 10 February 2026MonieWorld partnered with Nigerian actress and filmmaker Funke Akindele as brand ambassador to promote cross-border remittance services for Nigerians in the diaspora, particularly the UK. The partnership leverages her record-breaking Nollywood profile (including 'Behind The Scenes' grossing over N2 billion) to raise awareness of MonieWorld's money transfer, bill payment, and cross-border financial management tools.
• AwabahminorStrategic or Co-development PartnerAwabah, Nigeria's first Accredited Pension Agent licensed by PenCom, partnered with TeamApt to enable retirement savings contributions through the extensive POS terminal network across all 774 local government areas. Makes pension contributions as accessible as airtime top-ups for informal sector workers historically excluded from structured pension schemes.
• Vitel WirelessminorChannel Partner/ Reseller/ DistributorVitel Wireless partnered with Moniepoint and OPay to enable Nigerians to purchase airtime and data bundles directly through fintech wallets and banking platforms. Collaboration targets underserved and rural communities to expand mobile connectivity access and drive financial inclusion.
• Bancom (UK EMI Provider)coreOEM/ Whitelabel/ Licensing PartnerMoniepoint acquired UK EMI provider Bancom, enabling issuance of sterling accounts to MonieWorld users from December 2025. Migration from previous licensing arrangement provides greater control over banking and remittance services, direct access to UK instant payment systems, and foundation for European expansion.
• Sumac Microfinance Bank Kenya LimitedcoreStrategic or Co-development PartnerMoniepoint acquired 78% stake in Kenya's Sumac Microfinance Bank, gaining immediate access to a deposit-taking licence and branch network across Nairobi, Kiambu, and Nakuru. Deal approved by Central Bank of Kenya and Competition Authority of Kenya. Positions Moniepoint alongside Safaricom and Equity Group as SME-focused financial services provider in Kenya.
• Orda AfricacoreStrategic or Co-development PartnerMoniepoint acquired Orda Africa, a cloud-based restaurant management platform operating in Nigeria and Kenya. Orda's capabilities integrated into Moniebook for restaurant-focused POS and business management. Deal targets Africa's $50 billion food service industry with Nigeria's segment projected to reach $19.31 billion by 2030. 25 Orda team members joined Moniepoint.

Scale indicators16 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• OPay: Nigeria-focused mobile money and merchant payments fintech backed by SoftBank and others. Competes head-on with Moniepoint in POS acquiring, consumer wallets, and agent banking across Nigeria.
• Flutterwave: Pan-African payment infrastructure provider offering gateway, cross-border, and B2B payment services. Comparable as a Monnify-like payment gateway competitor serving Nigerian banks and merchants.
• Paystack: Nigerian-born payments gateway (now owned by Stripe) enabling online merchants to accept card and bank payments. Directly comparable to Monnify on payment-processing infrastructure for Nigerian businesses.
• Kuda Bank: Nigerian digital-only bank offering free business and personal accounts, cards, and transfers. Overlaps directly with Moniepoint's free-account, card, and consumer banking proposition.
• Carbon (formerly Paylater): Nigerian digital lender providing consumer and SME credit via mobile. Comparable to Moniepoint on transaction-data-driven credit underwriting and the pivot from payments to lending.
• Chipper Cash: Pan-African cross-border payments and remittance fintech. Comparable to Moniepoint's MonieWorld business on diaspora remittance corridors, especially UK-Africa.

Broad incumbents

• Interswitch: Long-established Nigerian payment processor and digital commerce company providing switching, card issuance, and Quickteller consumer payments. Broader incumbent overlapping Moniepoint's POS and gateway business.

Regional players

• Safaricom (M-Pesa): Kenya's dominant mobile-money operator with deep agent banking footprint and SME focus. Key comparand for Moniepoint's Kenyan ambitions via the Sumac Microfinance Bank acquisition.
• Wave: Mobile-money operator in West and Central Africa (Senegal, Ivory Coast, Mali, others). Comparable on agent-led distribution and low-fee digital payments across the same regional corridors as Moniepoint.

Emerging players

• TymeBank: South African digital retail bank with emerging-market focus (including the Philippines via GoTyme). Comparable as a digital-only, low-fee bank targeting underserved customers with a multi-country ambition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/moniepoint
• YouTubeyoutube.com/@Moniepointinc
• Facebookfacebook.com/Moniepointng
• LinkedInlinkedin.com/company/moniepoint-inc
• Instagraminstagram.com/moniepoint

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries7 records

Funding overview

Funding rounds10 records

Investors22 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Moniepoint