Overview of Transaction

• On October 29, 2024, Moniepoint, Africa’s leading payments and banking FinTech, announced it has secured $110 million in equity financing led by Development Partners International, with participation from the Google Africa Investment Fund, Verod Capital, and existing investor Lightrock
• Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint initially focused on providing infrastructure and payment solutions for banks and financial institutions; since then, Moniepoint has grown into Nigeria's leading business banking provider, providing more than 2 million active businesses with omnichannel payments acceptance, banking solutions, access to working capital loans, and business management tools to help them streamline and optimize operations
• Each month, Moniepoint processes over 800 million transactions, with a monthly total value exceeding $17 billion — over $200 billion annualized transaction value – all while generating strong topline growth at more than 150% CAGR in recent years and industry-leading gross profit and EBITDA margins

Significance of Transaction

• The capital raised will be used to accelerate Moniepoint’s growth across Africa, building an all-in-one, seamlessly integrated platform for African businesses of all sizes, while supporting initiatives by many African governments to widen access to the formal financial system and drive economic growth

FT Partners' Role

• FT Partners served as the exclusive financial and strategic advisor Moniepoint on this equity financing; FT Partners previously advised Moniepoint on its $25 million convertible loan note financing in 2022
• This transaction highlights FT Partners’ deep domain expertise across a wide range of FinTech verticals, as well as its successful track record generating highly favorable outcomes for high-growth companies in Africa and around the world