The story of Moniepoint (an all-in-one digital financial services platform for businesses in emerging markets) started, according to Noor Sweid (Founder and Managing Partner at Global Ventures – a UAE-based, growth-stage venture capital firm), in 2015 when Tosin Eniolorunda set his sights firmly on delivering ‘financial happiness’ to businesses and customers across the African continent.
Says Ms. Sweid: “Initially, he thought that by providing optimised digital infrastructure for banks, he could dramatically improve the banking experience for the range of the bank’s clientele. At the time, Nigeria’s banking system suffered from a range of inefficiencies, causing over 99 million adults to be financially excluded. In 2018, along with Felix Ike, he quickly realised more could be done about these numbers if they could reach customers directly and so, they pivoted the business model.
“Today, Moniepoint Nigeria is the foremost financial services platform for underbanked and underserved SMEs, serving over 3 million businesses nationwide and processing over $8.8 billion in transactions every month. With over 40 million Nigerian adults still formally excluded from financial services, their work is only just beginning!
“Proud to support Tosin and the team on their mission to deliver financial happiness across Africa!”