The Nigerian fintech company Moniepoint has become a ‘unicorn’ after raising $110 million from investors, including Google and Development Partners International, a private equity group located in London.
The firm, which is nine years old, revealed this information in a statement to The VIZTADAILY News on Tuesday.
Moniepoint is now valued at over $1 billion for the first time thanks to the financing.
A privately held firm valued at more than $1 billion that is not publicly traded is referred to as a unicorn in the startup ecosystem.
‘The funds 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.’
‘This platform will include services including credit, foreign exchange, digital payments, banking, and business management capabilities, making it a single point of contact for business solutions,’ the startup claimed.
Details will be provided later.
