Moniepoint is one of Africa’s fastest-growing fintech startups
Payment startup, Moniepoint processed 1.7 billion transactions worth over $100 billion in 2022, according to its 2022 performance review report.
It also disbursed $1.4 billion in loans and booked less than 1% in NPL (Non-Performing Loan).
Within the period, Moniepoint, which rebranded recently to focus on providing banking, credit, payments, and business management tools for its customers, processed an average of 8000 transactions per minute, becoming the leading fund transfer platform on the Nigeria Inter-Bank Settlement System, NIBSS.
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The platform analysis report shows that web payments accounted for $827 million while cardless transactions (PoS) stood at $613 million.
Moniepoint supported 592,677 businesses across several industries including Agriculture, Construction, Education, Fashion and Beauty, Financial Services, Food and Drinks, Healthcare, IT/Electronics, Manufacturing, Non-Profit, Oil and Gas, Religious Institutions, Travel, and Hospitality.
Founded by Tosin Eniolorunda and Felix Ike in 2015 to provide back-office payment infrastructure for banks, Moniepoint has risen to become one of the fastest-growing fintech startups in Africa.
It recently moved its headquarters to London, a strategic move for global expansion.
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The nine-year-old, venture-backed startup closed a $50M Series C in August 2022, but the founders continue to keep its valuation close to their chest.
However, with the strength of its revenue; it should attain unicorn status in 2023.
Moniepoint became profitable in 2022.