Moniepoint Completes $200 Million Series C Round with Additional $90 Million Raise
The fund "will be deployed judiciously to generate even more momentum" as the company enters the next chapter of its expansion's story.
Moniepoint Completes $200 Million Series C Round with Additional $90 Million Raise
Nigerian fintech firm Moniepoint MFB has announced the completion of its Series C funding round, raising an additional $90 million to bring the total round to $200 million. This fund raising was completed one year after achieving unicorn status. The extension was led by Development Partners International (DPI)’s African Development Partners III fund, with major participation from LeapFrog Investments, Proparco, Swedfund, Verod Capital Management, Google’s Africa Investment Fund, Visa Inc., International Finance Corporation (IFC), and Lightrock. According to Techpoint Africa, Visa and Google's participation in the extension is part of their moves to deepen Africa bets. In its statement, Moniepoint said the fresh capital will drive its next growth phase and continued expansion across the continent and into international markets. CEO Tosin Eniolorunda commented that the company will deploy the funds “judiciously to generate even more momentum … with financial happiness for Africans every…
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