Nigeria’s TeamApt relaunches Moniepoint product as business bank

TeamApt, a Nigerian fintech startup is launching Moniepoint as an online business bank to provide a wider range services to its customers.

It was launched in 2015 TeamApt was formed to solve inefficiencies in Nigeria’s growing digital financial services market, and has a variety of products. The startup counts 100 percent of the country’s commercial banks amongst its customersAnd in 2019 Obtained a switching licenseYou can also get information from the Central Bank of Nigeria, (CBN), and a Series A round of funding in the amount of US$5.5 Million

The startup Fundraising round for Series B in the multi-million US Dollar rangeAs it continues to grow in the wake of shifting its focus from B2C towards B2B, Moniepoint was spun out as a business banking bank.

Moniepoint has helped 162,000 small businesses process more than a billion transactions, worth NGN23 trillion, since 2019. While solving the payment problem, it realized many of Nigeria’s 41 million small businesses struggle with managing operations, taxes, insurance, and staff welfare. 

Moniepoint is now a business bank to solve this problem. Moniepoint’s expansion, in addition to providing a payment solution, allows Nigerians access to quick loans and the ability to manage operations, payroll and employee welfare. It also protects the business with affordable premiums. 

“As Nigerians, we feel the challenges of the economy acutely, in real-time. We have worked hard to make Moniepoint a bank that works for every Nigerian business owner. Moniepoint, in addition to providing a complete tech-enabled business solution, is also capable of providing crucial last-mile service delivery. This is in line with our mission to power the business dreams of Africa’s real economy, and provide financial happiness to all,” said TeamApt founder and CEO, Tosin Eniolorunda.

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