Story perspectives

Moniepoint Secures $10M from Visa to Digitize Africa's SMEs

1/24/2025

22 4

Summary

Story summary

Moniepoint, a Nigerian fintech, raised over $10 million from Visa to boost financial inclusion for SMEs in Africa.
The partnership focuses on enhancing access to digital payment solutions and fostering economic growth.
Moniepoint handles over 1 billion transactions monthly, totaling more than $22 billion in payment volume.
Visa's investment aligns with Moniepoint's goal to digitize African businesses and broaden its service offerings.
This collaboration strengthens both companies' positions in Nigeria's expanding digital payments market.

History

Historical Context

Visa's investment in Moniepoint mirrors historical efforts to enhance financial systems in emerging markets. In the 1990s, microfinance initiatives aimed to empower small businesses in developing countries. Today, Moniepoint's focus on digital payments continues this trend, fostering economic growth and financial inclusion across Africa.

1 of 2

Story summary

Moniepoint, a Nigerian fintech, raised over $10 million from Visa to boost financial inclusion for SMEs in Africa.
The partnership focuses on enhancing access to digital payment solutions and fostering economic growth.
Moniepoint handles over 1 billion transactions monthly, totaling more than $22 billion in payment volume.
Visa's investment aligns with Moniepoint's goal to digitize African businesses and broaden its service offerings.
This collaboration strengthens both companies' positions in Nigeria's expanding digital payments market.

1 / 2