Who Owns Moniepoint


Moniepoint Inc., formerly known as TeamApt Inc., is a prominent Nigerian fintech company that was established in 2015 by founders Tosin Eniolorunda and Felix Ike.

Over the years, Moniepoint has evolved to become a leading provider of financial solutions tailored for businesses, encompassing mobile banking, payment services, and loan offerings.

In a significant development in 2022, Moniepoint secured a banking license from the Central Bank of Nigeria, marking a pivotal step in its direction, and commenced providing business banking services to merchants across Nigeria.

In 2023, QED Investors, a notable investment firm, became the first African investor in Moniepoint.

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Who Owns Moniepoint

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Key Highlights of Moniepoint

  1. Rapid Growth and Recognition:
    • Moniepoint has emerged as one of the fastest-growing fintech companies in Africa.
    • The company boasts a substantial network, with over 1,500,000 merchants in its ecosystem.
  2. Transaction Volume:
    • Moniepoint processes an impressive annual transaction value exceeding $170 billion.
  3. Central Bank Recognition:
    • Acknowledged by the Central Bank of Nigeria, Moniepoint has received recognition as the most inclusive payment platform in the country.
  4. Geographical Presence:
    • Beyond its stronghold in Nigeria, Moniepoint extends its operations to other African countries, including Cameroon, Ghana, Kenya, Rwanda, Tanzania, and Uganda.
  5. Product and Service Portfolio:
    • Mobile Banking: Moniepoint offers a comprehensive mobile banking solution designed for businesses, facilitating instant transactions, savings, and investments.
    • Payments: The company provides merchants with diverse payment solutions such as point-of-sale (POS) terminals, mobile wallets, and online payment options.
    • Loans: Moniepoint extends financial support to businesses through its loan offerings, aiding in inventory financing and business expansion.
    • Business Management: Moniepoint equips businesses with operational tools like expense cards, accounting, and bookkeeping solutions, fostering seamless business operations.
  6. Commitment to Financial Inclusion:
    • Moniepoint stands as a strong advocate for financial inclusion, dedicated to ensuring that businesses of all sizes across Africa have access to essential financial services.
  7. Investment and Backing:
    • The company received significant backing from QED Investors, signifying confidence and support for its mission and growth prospects.

Does Moniepoint give Cash Back

Yes, Moniepoint does provide cashback to its users.

The cashback is offered on specific transactions, and users can receive varying amounts based on the type of transaction.

Here are the cashback rates provided by Moniepoint:

Cashback Rates Provided by Moniepoint:Description
Withdrawals:Users can receive cashback of up to N20 on withdrawals.
Transfers: Cashback of N5 is provided on transfers.
Who Owns Moniepoint
  1. Withdrawals:
    • Users can receive cashback of up to N20 on withdrawals.
  2. Transfers:
    • Cashback of N5 is provided on transfers.

It’s important to note that these cashback amounts are subject to the specific terms and conditions set by Moniepoint.

The cashback is automatically credited to the user’s Moniepoint account upon the completion of the respective transaction.

These cashback incentives add an extra benefit for Moniepoint users, making their transactions more rewarding.

Who Owns Moniepoint


Moniepoint’s suite of products and services serves as a catalyst for businesses, enhancing their efficiency, productivity, and overall profitability.

With a steadfast commitment to financial inclusion, Moniepoint plays a pivotal role in providing widespread access to financial services for businesses throughout Africa.


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