Visa-Backed Moniepoint Secures $90 Million to Expand Financial Inclusion Across Africa

 

In a strong vote of confidence for Africa’s rapidly evolving fintech sector, Moniepoint, a leading digital financial services provider backed by Visa, has raised an additional $90 million in funding. The new capital aims to accelerate Moniepoint’s mission of driving financial inclusion by expanding digital banking, payments, and lending access across underserved populations.

The round included participation from both new investors and existing stakeholders, reaffirming Moniepoint’s position as a key player in Africa’s fintech revolution.

Empowering Africa’s Digital Finance Landscape

Founded in 2015, Moniepoint has established itself as one of the most impactful fintechs in Nigeria and across several African markets. The company offers an extensive suite of services, including digital wallets, merchant payments, and agent banking, helping small businesses and individuals participate actively in the formal economy.

Its platform enables users to send and receive money, make merchant payments, and access credit, all while reducing dependency on cash-based transactions.

“Our goal is to make digital finance accessible to everyone, regardless of geography or income level,” said the Moniepoint CEO, emphasizing that technology-driven inclusivity remains at the heart of their vision.

Visa’s Continued Confidence in Moniepoint

Visa’s ongoing support signals the global payments giant’s commitment to strengthening digital infrastructure in emerging markets. The partnership aligns with Visa’s broader vision of fostering cashless economies and financial inclusion through collaboration with local innovators.

Moniepoint’s strong operational performance, compliance standards, and governance frameworks have attracted sustained investor confidence, even amid global funding slowdowns. Analysts note that Visa’s backing offers both credibility and strategic advantages for Moniepoint’s regional expansion.

Strategic Utilization of Funds

The newly raised capital will enable Moniepoint to:

• Expand its agent network across Africa, bringing digital services to rural and remote areas.
• Enhance its technology infrastructure, focusing on AI-powered credit scoring and fraud prevention.
• Develop API integrations that foster interoperability with banks, fintech partners, and third-party platforms.
• Broaden product offerings to include credit, insurance, and savings solutions tailored for small businesses.

By leveraging these investments, Moniepoint aims to reach millions more customers while maintaining affordability, reliability, and security.

AI, Data, and the Future of Fintech in Africa

With Africa’s mobile phone penetration soaring and its digital economy rapidly expanding, the fintech sector has become a magnet for innovation. Moniepoint’s investment in AI-driven credit assessment and data analytics aims to strengthen its risk management and customer insights — essential tools for sustainable growth.

Its agent network model, where local businesses act as banking agents, has been particularly successful in bridging the urban–rural divide. This localized approach not only builds trust but also fosters entrepreneurship in underserved areas.

A Boost for Africa’s Fintech Momentum

Moniepoint’s funding comes amid a broader surge in fintech investments across Africa. Global investors are increasingly drawn to the region’s untapped potential, young population, and mobile-first economy.

Industry observers view Moniepoint’s latest round as further proof that Africa’s digital financial infrastructure is entering a new era — one marked by scale, inclusion, and sustainable innovation.

Key Highlights

• Funding Amount: $90 million (additional round)
• Lead Backer: Visa
• Founded: 2015
• Headquarters: Nigeria
• Focus Areas: Digital payments, agent banking, lending, and AI-powered credit tools
• Use of Funds: Expansion, technology upgrades, and agent network growth
• Mission: Financial inclusion and economic empowerment across Africa

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