Visa-Backed Fintech Moniepoint Raises Additional $90 Million

Moniepoint, a Visa-backed fintech startup, has raised an additional $90 million in funding, bringing its total investment to $200 million. The funds will be used to accelerate the company's expansion plans across Africa. Moniepoint is a financial technology platform that provides services such as digital banking, payments, and lending to businesses in Africa. The company has already established a presence in several African countries and aims to further strengthen its position in the region. The latest funding round was led by existing investors, including Sequoia Capital and Tiger Global Management. The additional capital will enable Moniepoint to invest in technology, expand its product offerings, and reach more customers across the African continent. The fintech sector in Africa has been growing rapidly, driven by the increasing adoption of digital solutions and the need for financial inclusion. Moniepoint's success in securing this funding demonstrates the potential of the African fintech market and the growing interest from global investors in the region.