Moniepoint Inc., a leading financial platform in Nigeria, has announced a partnership with Visa, a global leader in digital payments, to enhance financial services and empower small and medium-sized enterprises (SMEs) across Africa.
This strategic collaboration aims to accelerate financial inclusion and foster economic growth by expanding access to digital payment solutions and financial tools.
Since its founding in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly TeamApt Inc.) has emerged as a transformative force in Africa’s fintech ecosystem.
Investors King gathered the platform processes over 1 billion transactions monthly with a total payments volume exceeding $22 billion.
Moniepoint provides integrated services, including digital payments, bank accounts, credit, and management tools, enabling African businesses to thrive in a rapidly evolving economy.
Visa’s investment in Moniepoint underscores its commitment to advancing digital economies and supporting African SMEs, which form a critical segment of the continent’s workforce.
According to Tosin Eniolorunda, Founder and Group CEO of Moniepoint Inc.: “We are thrilled to announce Visa’s investment in Moniepoint. Visa’s backing is a strong endorsement of our vision to digitize and support African businesses at scale. Together, we aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy. Given that about 83% 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.
“Visa’s expertise in global payments and Moniepoint’s proven ability to serve African businesses make this partnership an exciting opportunity in shaping the continent’s economic future even as we pave the way for a more inclusive and dynamic financial ecosystem. We are delighted in joining forces with Visa to enhance the digital payment infrastructure, expanding financial services, and fostering innovation in Africa.”
Andrew Torre, Regional President, Central and Eastern Europe, Middle East, and Africa at Visa, said “Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development. By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond. We are excited to support their next phase of growth and innovation.
“Visa’s investment in Moniepoint is the latest example of our long-standing commitment to advancing digital 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.”
The partnership with Visa combines Moniepoint’s local expertise with Visa’s global capabilities, creating a powerful synergy to drive digital transformation, enhance payment infrastructure, and foster innovation in Africa.
By empowering SMEs with the tools and resources they need, Moniepoint and Visa aim to transform the continent’s economic landscape, driving long-term prosperity and financial happiness for millions of Africans.