Moniepoint is a Nigerian financial technology company that offers business and personal banking, point-of-sale terminals and agent banking. It began in 2015 as TeamApt, a software company for banks, founded by Tosin Eniolorunda and Felix Ike, and was described by investors in 2024 as a unicorn after a US$110 million funding round.
Timeline
- 2015: TeamApt is founded to build software for traditional banks.
- 2019: It obtains a licence for agency banking, launches Moniepoint as a mobile-money agent network and raises US$5.5 million in Series A funding from Quantum Capital, per company-history write-ups.
- 2020: It adds POS terminals for agents.
- February 2022: It receives a business banking licence.
- 2024 and 2025: A US$110 million round marks unicorn status, followed by a further US$200 million in October 2025, according to funding coverage.
Why agents mattered
Agent banking let Moniepoint reach customers in places traditional banks considered unprofitable. A merchant with a POS terminal can take card payments and offer withdrawals and transfers without sending customers to a branch. Rest of World describes how businesses in Nigeria increasingly skip traditional banks and use Moniepoint instead.
Scale figures to treat carefully
Company and press accounts quote processing of well over US$100 billion a year and more than ten million customers. Figures differ between sources and years, so we do not give a single number here.
Related
For the founder behind it, see Tosin Eniolorunda.
What we could not verify
We did not test Moniepoint’s products. Licences and balances should be checked against the Central Bank of Nigeria’s published lists.
