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Moniepoint Makers Rebrands, Adopts Product Name

Nigerian fintech startup, TeamApt, the company behind the popular product Moniepoint are rebranding to adopt the product’s name. The company says that this move shows just how big the product has grown to be.


“The Moniepoint brand is already an established and trusted name among its customer base in Nigeria, and adopting it as the name means one less layer between the brand and the people it intends to serve,” it said in a statement.


The new company will now be headquartered in London, signifying that it is no longer just an African company but a global employer. However, it did not mention providing services in the UK at the time.


TeamApt founder and CEO, Tosin Eniolorunda
TeamApt founder and CEO, Tosin Eniolorunda. Image Source: Global Ventures.


Despite the difficulties experienced by tech companies in 2022 that saw massive layoffs, Moniepoint was insulated from trouble. It shared data that showed that it processed annual total payments volume (TPV) of more than $170 billion.


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The company has 967 staff and a customer base of 600,000 businesses and it grew its revenue by 146% in 2022, due to the rise of dollar against the Naira, which most of its local clients use for transactions.


Moniepoint was named among the top 250 fintechs in the world by CB Insights and won the National Inclusive Payment Initiative Award from the Central Bank of Nigeria.


Moniepoint team
Moniepoint team. Image Source: BitcoinKE.


“In the coming months, we plan to launch new products including bookkeeping and accounting, longer-tenured working capital loans, and international payment collections, amongst others,” the company said about its plans for 2023.


Moniepoint is being touted as the next African unicorn as it generated a revenue of $200 million in 2022 and raised $50 million in funding during the period.


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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.