Moniepoint now Worth $1Billion in Valuation
The Moniepoint valuation receives a huge surge in 2024 with the latest funding round led by Development Partners International (DPI). Moniepoint now worth $1 billion dollars in valuation.
According to a report by TechCabal, “the new financing round will almost triple the company’s valuation, which was around $400 million in a 2022 funding round in which it raised $50 million.”
Other notable investors that participated in the funding round are Google’s Africa Investment Fund, Verod Capital, Global impact firm and Lightrock. Global Impact Firm and Lightrock are existing investors.
The Moniepoint Financing is a Series C Funding Round, worth $110 million, according to insiders that are familiar with the financing.
Moniepoint Valuation and Net Worth in 2024
The Moniepoint’s $110 million latest Series C financing in 2024 valued the fintech company above $1 billion, giving it “unicorn” status – a term for tech firms with a valuation of a billion dollars or more.
Recall that Moniepoint processed 5.2 billion transactions in 2023, emphasizing it huge growth in the Nigeria financial landscape. It also worth noting that the Series C The funding also included a secondary sale with a discounted valuation, which was ideal for many investors.
According to Financial Times (FT), Moniepoint’s Annual Revenue (MAR) amounted to $62.6 million in 2021. The report suggests that the company’s annualized revenue—an estimate of its yearly earnings based on current income rates and the total income generated from its business activities—has now exceeded $100 million.
This growth indicates significant business expansion, likely due to an increase in its customer base, transaction volume, or service offerings, and highlights Moniepoint’s improving financial performance, which is an essential indicator of its profitability and market strength for stakeholders.
