Nigerian fintech Moniepoint said it processed N412 trillion in transaction value in 2025 and disbursed more than N1 trillion in loans to small businesses, highlighting its growing role in Nigeria’s retail payments and credit ecosystem amid tightening bank lending.
The company said it handled more than 14 billion transactions during the year and now powers about 80 percent of in-person payments nationwide, underscoring the increasing concentration of payment flows through a small number of fintech platforms.
Moniepoint’s scale reflects a broader shift in Nigeria’s payments landscape, where point-of-sale terminals and digital transfers have become central to everyday commerce, from neighbourhood shops to open-air markets.
Analysts say fintech-led acquiring has outpaced traditional bank infrastructure, particularly in informal and semi-formal retail segments.
Founded in 2015, Moniepoint has evolved from a backend technology provider into Nigeria’s largest merchant acquirer, offering payments, banking, credit, foreign exchange and business management tools to more than 6 million active businesses.
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The firm’s payments dominance has also strengthened its position in adjacent financial services. By analysing transaction histories and business patterns, Moniepoint has expanded lending to small businesses that are often excluded from bank credit, disbursing more than N1 trillion in loans through its microfinance banking unit in 2025, the company said.
“Our focus has been on building infrastructure that works for how businesses actually operate,” said Tosin Eniolorunda, Moniepoint’s founder and chief executive, pointing to the prevalence of informal trade in Africa’s largest economy.
In 2025, Moniepoint raised more than $200 million in a Series C funding round backed by investors including Development Partners International, Google’s Africa Investment Fund, Visa, the International Finance Corporation and Verod Capital, providing capital to scale its payments and financial services operations.
Beyond acquiring, the company said its switching and processing subsidiary, TeamApt Ltd, secured licences from Mastercard and Visa to operate as a processor and acquirer, enabling it to handle international card payments and provide switching services to other businesses across Africa. Its web payments gateway, Monnify, processed N25 trillion in transactions during the year.
As Nigeria pushes for greater digitalisation of payments, Moniepoint’s growing share of retail transactions highlights both the scale achieved by fintech operators and the rising importance of non-bank players in the country’s financial system.
