Fintech Giant - Moniepoint - Ranked as Africa’s Fastest Growing Fintech by the Financial Times for the Second Consecutive Year
15 Mayo 2024 - 3:00AM
Business Wire
World’s leading financial publication
confirms Moniepoint’s rapid revenue growth
Moniepoint Inc. (“the Company” or “Moniepoint”), announces it
has been ranked by the Financial Times as Africa’s fastest-growing
fintech.
The world’s leading financial publication confirmed Moniepoint’s
accolade in its annual “Africa’s Fastest Growing Companies” survey,
released yesterday. It is the second consecutive year Moniepoint
has achieved both the fastest-growing fintech milestone, and,
ranked in Africa’s top four fastest-growing companies overall.
The survey was compiled by Statista, a leading research company
renowned for its insight into African companies’ actual
performance, in a rigorous screening process. In this survey,
companies are ranked based on 2019-2022 data by (i) their absolute
growth rate of revenues and (ii) their compound annual growth rate
(CAGR).
Moniepoint’s growth rates of 7,979% (absolute) and 332% (CAGR)
ranked it ahead of hundreds of leading companies from diverse
industries such as technology, telecoms, financial services, and
healthcare.
Moniepoint has long been one of Africa’s largest business
payments platforms, processing over $182 billion for customers in
2023.
Last year, the Company entered the personal banking market via
its subsidiary Moniepoint Microfinance Bank - offering reliable
banking services to millions of individuals across Nigeria. It also
doubled its global headcount, growing to over 1,800 employees by
the end of 2023.
This recognition highlights Moniepoint’s success as Africa’s
leading fintech, driving financial inclusion by empowering
underserved businesses and individuals to access the formal
financial system, contributing to a key goal of the Nigerian
government.
Tosin Eniolorunda, Group CEO of Moniepoint Inc.,
said:
"We are thrilled to be recognised by the Financial Times as
Africa’s fastest growing fintech for the second consecutive year.
Achieving rapid growth and scale is a fantastic achievement;
maintaining that year-on-year is even better. The ranking is a
testament to the dedication and hard work of the entire Moniepoint
team, and the trust of millions of customers across Africa in the
Company.
“2023 was a pivotal year for Moniepoint. We entered the personal
banking market for the first time and made progress in our goal to
enter new African markets. 2024 is set to be even more exciting
with continued growth and innovation, as we maintain our leading
role within the African fintech sector, driving financial inclusion
across Africa.”
Notes to Editors
About Moniepoint
Moniepoint Inc is a global technology company with a focus on
financial services in Africa and other emerging markets. Since
2019, Moniepoint Inc.’s technology has powered over five million
businesses and their customers, offering all the payment, banking,
credit and business management tools they need to succeed. It aims
to power the dreams of businesses, their employees and customers by
providing them with the financial technology tools they need to
grow, no matter their digital literacy level.
Moniepoint Inc. currently processes the majority of the Point of
Sales (POS) transactions in Nigeria through its subsidiaries,
processing over $182 billion in annualised TPV. It is Africa’s
largest fintech by transaction volume. It is profitable and, in
2022, became QED Investors’ first investment into Africa.
For more information, please visit: https://moniepoint.com/
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Ben Rothschild moniepoint@thoburns.com +44 7564 584 439