Moniepoint, a Nigerian neobank, has officially reached unicorn status following a successful $110 million funding round, pushing its valuation over the $1 billion mark. This funding positions Moniepoint as the latest African startup to join the continent’s exclusive unicorn club.
This Series C funding, led by Development Partners International (DPI) along with Google’s Africa Investment Fund, Verod Capital, and Lightrock, will fuel Moniepoint’s plans to scale its digital payment solutions, banking services, foreign exchange and credit offerings across the continent.
With this achievement, Moniepoint joins other African unicorns like MNT-Halan, Interswitch, Flutterwave, Chipper, OPay, Wave, and Andela. Moniepoint is set to further disrupt the fintech as its financial platform grows.