Visa Backs Moniepoint With Strategic Capital to Reshape Africa's SME Payment Landscape

Africa’s fintech sector is witnessing a major shift as Moniepoint, Nigeria’s dominant SME-focused financial platform, secures backing from Visa, the global payments powerhouse. This partnership underscores Visa’s growing commitment to reshaping digital payment infrastructure across the continent while amplifying Moniepoint’s mission to bring financial services within reach of Africa’s massive informal business economy.

The Business Case Behind the Investment

Since its 2015 launch by Tosin Eniolorunda and Felix Ike, Moniepoint has grown into Africa’s go-to financial ecosystem for small and medium-sized enterprises. The platform now serves approximately 10 million businesses and individuals, processing over 1 billion monthly transactions with a cumulative payment volume surpassing $22 billion. This impressive operational scale demonstrates the company’s capacity to operate profitably while maintaining rapid expansion—a combination that has caught the attention of heavyweight investors.

The company’s recent performance metrics tell a compelling story: revenue has expanded at over 150% compound annual growth rate, positioning Moniepoint as a transformative player in Africa’s fintech landscape. By offering integrated digital payments, banking solutions, credit facilities, and business management tools, the platform enables merchants to transition from cash-based to digitized operations, directly addressing a critical gap in Africa’s financial infrastructure.

Why This Partnership Matters

Visa’s investment carries broader significance for the continent’s economic trajectory. Approximately 83% of employment across Africa remains within the informal economy—a vast, underserved segment that traditional financial systems have largely overlooked. Moniepoint’s ability to digitize operations for this demographic, combined with Visa’s global payment expertise and network, creates a powerful mechanism for financial inclusion at scale.

Andrew Torre, Regional President for Central and Eastern Europe, Middle East and Africa at Visa, highlighted how the partnership addresses fundamental business needs: “Moniepoint has built a platform that directly meets the requirements of Africa’s SME segment, a cornerstone for economic development. By making financial services and digital payments more accessible and streamlined, they’re transforming how businesses operate across Nigeria and beyond.”

The investment represents Visa’s broader strategic positioning in Africa’s digital economy. Rather than viewing the continent as a mere market to penetrate, Visa is actively deploying capital alongside local expertise to build sustainable payment infrastructure that benefits businesses at every scale.

Building Momentum for the Continent

Moniepoint’s investor syndicate now includes Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, QED Investors, and others—a roster reflecting the company’s credibility and growth potential. As the nation’s largest merchant acquirer and primary processor of Nigeria’s Point of Sale transactions, Moniepoint has established operational credibility that extends beyond rhetoric.

The partnership aims to deepen financial inclusion by expanding access to payment solutions, credit products, and business management tools. For entrepreneurs operating in Africa’s dynamic informal sector, this translates into real opportunities to scale operations, tap new revenue streams, and integrate into formal financial systems.

For more information about Moniepoint’s services and how businesses can participate in this digital transformation, visit support.moniepoint.com.

Together, Visa and Moniepoint are positioning themselves at the forefront of Africa’s fintech revolution, combining international payment infrastructure with deep local market knowledge to unlock economic opportunities for millions of previously underserved entrepreneurs.