LAGOS, Oct 21 (Reuters) - Nigerian fintech firm

Moniepoint Inc. said on Tuesday it had raised more than $200

million in a funding round led by Development Partners

International, as it seeks to expand its digital financial

services across Africa and beyond.

The Series C financing, which also included LeapFrog

Investments, Visa, Google's Africa Investment Fund, and the

International Finance Corporation, is one of the largest equity

fundraisings by an African fintech this year.

Moniepoint, formerly known as TeamApt, said the funds would

support its expansion into new markets and enhance its offerings

for small and medium-sized enterprises, which form the backbone

of Africa's informal economy.

"This is a proud day for Moniepoint," said Tosin

Eniolorunda, the company's co-founder and CEO. "We founded the

company to widen financial inclusion and help African

entrepreneurs realise their potential. This funding will help us

accelerate that mission."

Founded in 2015, Moniepoint has grown into Nigeria's largest

business banking platform, serving over 10 million active users

and processing more than $250 billion in annual transaction

value. The company has remained profitable at scale, a rare feat

among global fintechs.

The funding follows a string of product launches, including

MonieWorld, a remittance platform targeting the African diaspora

in Britain, and a bookkeeping tool for micro and small

businesses.

DPI, which led the first close of the round in 2024, said

Moniepoint's combination of growth and impact made it a standout

investment.

"Moniepoint continues to deliver innovation alongside

sustained profitability," said DPI partner Adefolarin Ogunsanya.

"We're proud to support its next phase of growth."

LeapFrog's Karima Ola said the investment aligned with the

firm's vision of building inclusive financial infrastructure

across Africa.

Lightrock, Alder Tree Investments, Proparco, Swedfund, and

Verod Capital Management also participated in the funding round.

Financial Technology Partners acted as exclusive adviser to

Moniepoint.