Moniepoint's $200 million Series C made it a unicorn. The label itself is the argument
Nigeria's biggest fintech by merchant footprint closed one of Africa's largest funding rounds. The cash is verified; whether a private valuation makes a 'unicorn' worth a billion dollars is the argument the sector is still having.
Key points
- Moniepoint raised $110 million in October 2024, valuing it above $1 billion — the unicorn threshold.
- A further $90 million in October 2025 took the Series C to about $200 million in total.
- The company says it processes over $250 billion a year (company-reported figures).
- Africa minted no new unicorns in 2025 — which is why the billion-dollar label is disputed, not the funding.
What happened
Moniepoint started life as TeamApt in 2015, building software for banks, before becoming the company behind the blue POS terminals in shops across Nigeria. In October 2024 it raised $110 million in a Series C round led by Development Partners International with Google's Africa Investment Fund — a deal that valued the company above the $1 billion 'unicorn' threshold.
A year later, in October 2025, the company closed a further $90 million, taking the round to about $200 million. By the company's own account it processes more than $250 billion in transactions a year. A sector review also noted that 2025 produced no new African unicorns — Moniepoint's billion-dollar mark came from the 2024 leg of its round — which is why the valuation claim below is labelled disputed: the funding is real, the meaning of a private valuation is argued.
Claim by claim
Why this label: Announced 29 October 2024: a $110 million Series C led by Development Partners International, with Google's Africa Investment Fund, valuing the company above $1 billion — the unicorn threshold.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Why this label: October 2025: a further $90 million took the Series C to about $200 million in total. The company was founded as TeamApt in 2015 and rebranded to Moniepoint.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Why this label: Company-reported and carried by its investors: Moniepoint says it processes over $250 billion in transactions a year through its merchant network. Company figures — Vozia labels them as such.
On the ladder: a claim earns Verified from primary evidence, or from two independent sources that do not copy each other.
Why this label: The unicorn label itself: it rests on a private funding valuation, not a market price, and sector reviews noted Africa minted no new unicorns in 2025. The money raised is verified; what it proves about value is argued.
On the ladder: credible sources conflict, so we show both workings. One side's own statement is that side's position — never proof.
What we know / what we don't know yet
What we know
- The Series C amounts and dates (October 2024 and October 2025).
- The round total of about $200 million.
- Investors included DPI and Google's Africa Investment Fund.
What we don't know yet
- Whether a future funding round or listing would hold the billion-dollar valuation.
- The company's audited profitability — private companies are not required to publish it.
Why it matters
Funding rounds this size shape which companies dominate African payments. Moniepoint's network of agents and POS terminals reaches millions of small businesses — if it wins, it becomes infrastructure, and its valuation becomes a debate about the whole ecosystem, not one company.
Update history
No silent edits. Every change is written here, with its time.
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Story published after the Series C close in October 2025.