Moniepoint Joins Africa’s Unicorn Club After Raising $110m From Google, DPI

Moniepoint, a leading Nigerian fintech company, has secured $110 million in funding from prominent investors, including Google and Development Partners International (DPI).

The nine-year-old startup disclosed this in a statement to ABN TV on Tuesday.

The investment has boosted Moniepoint’s valuation to over $1bn for the first time.

In the startup ecosystem, a unicorn is a privately held company valued at more than $1bn and not publicly traded.

“The capital raised will be used to accelerate Moniepoint’s growth across Africa, building an all-in-one, seamlessly integrated platform for African businesses of all sizes.

“This platform will include services such as digital payments, banking, foreign exchange, credit, and business management tools, making it a one-stop shop for business solutions,” the startup said.