Nigerian fintech, Moniepoint has gotten a “unicorn” status after securing $110m in funding from investors, which includes Google and London-based private equity firm Development Partners International (DPI)

Moniepoint revealed this in a statement to the media on Tuesday, October 29, 2024.

The investment has heavily improved Moniepoint’s valuation to over $1bn for the first time.

A unicorn is a privately held company valued at more than $1bn and not publicly traded.

The startup stated: “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.

“This platform will include services such as digital payments, banking, foreign exchange, credit, and business management tools, making it a one-stop shop for business solutions.”