Nigeria’s innovative fintech sector continues to gain international recognition as two of its leading unicorns, Moniepoint and Flutterwave, have been named among TIME’s 100 Most Influential Companies for 2025. This acknowledgment not only celebrates their unprecedented growth but also underscores the global significance of African fintech innovation.
Moniepoint: From Humble Beginnings to a Full-Service Powerhouse
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Lagos-based Moniepoint has risen from modest banking infrastructure roots to become a formidable force in the financial sector. The company's growth trajectory highlights its pivotal role in transforming Nigeria’s informal economy and supporting small and medium-sized enterprises (SMEs).
In late 2024, Moniepoint achieved unicorn status after successfully raising a $110 million Series C funding round, a milestone that underscores investor confidence in its mission. The company has received numerous accolades, including awards in Corporate Banking and Digital Wallets at the IBS Intelligence Digital Banking Awards.
Moniepoint’s platform now supports over 10 million customers, processing more than $1 billion in transactions monthly and a total payments volume exceeding US$22 billion per month. Recently, it launched MonieWorld, a remittances product designed to serve customers outside Africa, expanding its reach into global markets.
Tosin Eniolorunda, CEO of Moniepoint, expressed pride at the recognition, stating, “This recognition by TIME is a powerful validation of the work we do every day to create financial happiness for millions of people and businesses in Africa.”
Flutterwave: Connecting Africa to the World
Valued at $3 billion, Flutterwave’s inclusion in TIME’s list celebrates its ambitious vision of integrating Africa into the global economy. Since its inception in 2016 by Olugbenga Agboola, Flutterwave has rapidly expanded its footprint, establishing itself as Africa’s most valuable fintech company.
TIME highlights Flutterwave’s Send App, which operates across 49 U.S. states, with 98% of transactions completed within five minutes. Its expanding global partnerships in regions like Saudi Arabia and Turkey have further propelled its international presence. In 2024 alone, the company processed $31 billion in transactions, reflecting its extensive reach and influence.
Olugbenga Agboola, founder and CEO, emphasizes Flutterwave’s long-term vision: “We’re here for the long game,” he stated. The company is currently focused on achieving profitability by the end of 2025, aligning its growth with sustainability and long-term impact.
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