VISA invests in Moniepoint to promote the growth of small and medium -sized enterprises in Africa, enabling digital payments, financial package, and economic prosperity through innovative solutions.
Moniepoint Inc. (Moniepoint), one of Nigeria's major business payments and bank service platforms, has secured investment from VISA, a global leader of digital payments. This investment is an important milestone in a visa commitment that promotes the growth of small and medium -sized businesses throughout Africa, promotes financial inclusion and forms the future of digital payments.
Moniepoint Inc (formerly known as Teamapt Inc) established by Tosin Eniororunda and Felix IKE in 2015 is a major financial platform for large and medium -sized companies (small and medium -sized businesses) in Nigeria. Establish its status and provide integrated services including integrated service suite. Digital payment, bank account, credit, and management tools. The platform processes more than 1 billion transactions each month, has a total payment of over $ 22 billion, and enables companies to digitize their businesses and prosper in the rapid evolution of Africa.
With this investment, VISA supports the mission of the monitoring point of giving power to African companies, further accelerating the growth and expansion of the entire continent. Moniepoint's highly profitable scalable business model, along with its powerful operation and financial results, has positioned it as a change in the African Fintech Eco System.
As Africa's FinTech landscape focuses on the bridge of dynamic ecosystem and financial package gap, visa is at the forefront of this change, and its specialized knowledge and resources are Africa fins. It has been functioned to support the growth of tech startups.
I'm excited to be able to announce VISA investment in Moniepoint. VISA's support is a powerful support of our vision of digitizing and supporting large -scale African businesses. At the same time, we aim to deepen financial inclusiveness and to access the tools and resources necessary for small and medium -sized enterprises to prosper in the digital economy. Given that about 83 % of the entire employment in Africa is in the unofficial economy, we are very enthusiastic about expanding the official financial system and promoting the economic growth of the whole Africa.
Global Payment's VISA expertise and moniepoint's proven abilities, which provide services to African companies, are the continental economy, even if this partnership has opened a more comprehensive and dynamic financial ecosystem. It is an exciting opportunity to form a target future. We are pleased with VISA to strengthen digital payment infrastructure, expand financial services, and promote African innovation.
-TOSIN ENIOLORUNDA, founder and group CEO of Moniepoint Inc.
Mony Point has built an impressive platform that directly deals with the needs of African SMEs, an important segment in enabling economic development. MoniePoint helps to transform the Nigeria and later business operations by making financial services and digital payments easier and more efficient. We look forward to supporting the next stage of their growth and innovation.
VISA investment in the monster point is the latest example of a long -term commitment to move the digital economy in Africa. It will enable SMEs to succeed through innovative payments and software solutions to enlarge and open new profitable opportunities for small and medium -sized enterprises.
-Adrew Toret, regional president, Central and East Europe, Middle East and Africa, visa
Moniepoint has been experiencing index -functional growth since its establishment in 2015, and its revenue has recently increased over 150 %. The company's efforts to expand access to financial services are closely consistent with visa missions that individuals and companies can prosper in the global economy.
This partnership combines Moniepoint's local expertise with innovative business models and VISA's global resources and abilities. Moniepoint and VISA aim to accelerate digital transformation of small and medium -sized businesses in Africa and promote economic package and long -term economic prosperity.
VISA is Development Partner, Google's Africa Investment Fund, Verod Capital, Lightrock, Qed Investors, BRITISH INTERNATION Other famous NVESTURES (BII), FMO (Dutch entrepreneur Development Bank), Global Ventures and Endeavor Catalyst I am participating in an investor. The mission is to create a society where everyone experiences economic happiness.
