Moniepoint is Nigeria’s leading business banking and payments platform — it crossed unicorn status ($1bn+ valuation) after a $110m raise in 2024 and has been profitable since 2022. In 2026 it expanded into Kenya via acquisition of Sumac Microfinance Bank and acquired Nigerian restaurant management platform Orda. Moniepoint processes the majority of Nigeria’s POS terminal transactions and serves ~2 million businesses.
Company Profile
Key Developments
Q1 2026: Entered Kenya via acquisition of Sumac Microfinance Bank. March 2026: Acquired Orda (Nigerian restaurant management platform). Commands majority of Nigeria's POS terminal transaction volume — ~2 million business customers. One of Africa's few profitable unicorn fintechs.
Key Risks
International expansion (Kenya) is a new market with different regulatory environment and incumbent players. POS terminal dominance in Nigeria faces competition from Flutterwave, Paystack/Stripe, and bank-owned platforms.
What Happens Next
Watch for further East African expansion post-Kenya, and any fundraising signals ahead of a potential IPO.