Tosin Eniolorunda is the founder and group CEO of Moniepoint Inc. He started his career as a software engineer at Interswitch—one of Nigeria’s leading payment companies founded by Mitchell Elegbe. Moniepoint (formerly TeamApt) is one of Africa’s fastest‑growing fintech platforms. Aside from being a CEO, professionally, Tosin is a prominent Nigerian software engineer and entrepreneur.
Tosin started his career at Interswitch in 2009 when he worked as a senior software manager and product manager. He programmed Interswitch’s first point-of-sale (POS) software, which became widely adopted in Nigeria. After he left engineering POS systems for Interswitch, he co-founded TeamApt in 2015 with Felix Ike, which later became Moniepoint Inc.
Tosin Eniolorunda studied and earned a B.Sc. in Mechanical Engineering from Obafemi Awolowo University (2007) and later studied at Lagos Business School. The establishment of TeamApt was bootstrapped with his personal funds. Under Tosin's leadership, TeamApt was rebranded to Moniepoint in March 2023.
Before March 2023, Moniepoint—which was originally just an agency banking platform—was a product under TeamApt. In March 2023, the company adopted the name Moniepoint Inc., aligning the company’s brand with its most successful product as it expanded its offerings from agency banking into business and personal banking and digital financial services.
According to CEO Tosin Eniolorunda:
“The Moniepoint brand had become far more recognized than TeamApt... So it made sense to consolidate everything under one name for clarity and brand strength.”
(Source: TechCrunch, March 2023)
✅ The first funding ever was from Oui Capital in 2019 when $150,000 was invested into TeamApt as seed funding. This investment gave Oui Capital, led by Olu Oyinsan, a 1.2% stake in TeamApt and also valued the company at roughly $12 million post-money. Oyinsan said the reason he invested was because he's impressed by Tosin’s deep understanding of banking technology.
However, it's important to note that Oui Capital sold only part of its shares and partially exited its investment in Moniepoint during the company’s $110 million Series C round in October 2024, which pushed Moniepoint to unicorn status. The firm realized an $8 million return from its original $150,000 investment—delivering a 53× return and fully repaying its $4 million debut fund.
The $110 million Series C funding round was led by Development Partners International (ADP III), with participation from Google Africa Investment Fund, Verod Capital, and Lightrock. The investment is currently valuing Moniepoint at over US $1 billion and elevated it to unicorn status. However, Moniepoint secured a $10M strategic investment from Visa, which reaffirms that the company has “exceeded $1B in valuation.”
Tosin Eniolurunda Biography
| Claim | Status |
|---|---|
| Born in September 1985; turns 40 in 2025 | ✅ Confirmed |
| Founder & Group CEO of Moniepoint Inc. (formerly TeamApt) | ✅ Confirmed |
| Studied Mechanical Engineering at Obafemi Awolowo University | ✅ Confirmed |
| Started career at Interswitch as a software engineer | ✅ Confirmed |
| Founded TeamApt in 2015 | ✅ Confirmed |
| Rebranded TeamApt to Moniepoint Inc. in March 2023 | ✅ Confirmed |
| Oui Capital invested $150k for 1.2% in 2019 | ✅ Confirmed |
| Partial exit in 2024: Oui Capital earned $8M from that stake | ✅ Confirmed |
| Moniepoint hit $1B+ valuation in Oct 2024 (Series C) | ✅ Confirmed |
| Built apps for Sterling and Unity Bank | ⚠️ Anecdotal, based on single-source profiles |
| Lived in 1004 Estate, Lagos, before Moniepoint | ⚠️ Unverified—no public documentation |
| Received an exit email from Sterling Bank while driving | ⚠️ Personal anecdote—no third-party corroboration |
| Net worth exceeds $100M. | ❌ Not verified (public estimates suggest ~$30M) |
| Retained stake now worth over $20M | ❌ Not publicly confirmed |
| Moniepoint’s success transformed his financial status | ✅ Plausible and widely supported |
| Moniepoint Inc. is headquartered in Lagos, Nigeria | ✅ 2 Wole Ariyo Street, Off Admiralty Road, Lekki Phase 1, Lagos, Nigeria |
Tosin Eniolorunda Net Worth
Tosin Eniolorunda's net worth is estimated to be around $100 million in 2025, based on Moniepoint's valuation of $1 billion and an assumed 10% ownership of Tosin in the company. If Eniolorunda owns 10% of Moniepoint, his stake would be worth approximately $100 million.
We cannot say for sure how much Tosin Eniolorunda net worth can be because his exact ownership details are not publicly confirmed. So, the estimated net worth above is just an assumption. Until he publicly confirmed his stack in Moniepoint or say how much he worth.
