By Akin Adewakun | Lagos
FINTECH company, Moniepoint, has said that it has successfully helped to power over 600,000 businesses, in Nigeria, since opening its doors for business in the country, in 2015.
The all-in-one business banking platform, in its 2022 review, released recently, added that the platform it also witnessed an unprecedented demand for its products and services across over 15 different industries, comprising: Agriculture, Construction, Education, Fashion & Beauty, Travel & Hospitality and Financial services, in the period under review.
The fintech company, which, last month, rebranded from TeamApt to Moniepoint, also said it had processed over $820 million web payments, since starting business in Nigeria.
One of its product innovations, it added, was the launch of its POS transfer product in August, from which it had already facilitated $613 million in cardless POS Transfers.
Describing its performance in the out-gone year as one of the most successful, since founded in 2015, the company added that its Nigerian business had been able to grow the global team by over 66 per cent from 630 to over 960, spanning locations across the globe.
“Despite a rocky turn for global financial markets in the second half of 2022, Moniepoint became QED Investors’ first investment into Africa and saw significant success as a digital banking solution for SMBs with an annualised Total Payments Volume of more than $144 billion,” the company stated.
It also explained that the transformation from TeamApt to Moniepoint signified the company’s success as the all-in-one digital banking solution for businesses across Nigeria.
“The shift to the Moniepoint brand marks the next step in the business’s expansion strategy, accompanied by the relocation of its headquarters to London.
“By December last year, Moniepoint, formerly known as TeamApt, provided a record $1.4bn in loans to businesses across Nigeria to help them fulfill their growth potential,” it stated.
