Last week, Nigeria's leading business payments and banking platform Moniepoint, appointed Ross Strike as the new head of Mergers and Acquisitions (M&A) and investor relations to expand the company's reach and market share. This latest announcement follows several significant events like the company's lead in Payday's 3 million dollar seed round and the appointment of Pawel Swiatek as Chief Operating Officer. Moniepoint is sending a significant statement in Africa's financial technology space that it is setting up for the next-level growth phase.
![](https://www.inclusiontimes.com/content/images/2023/06/Moniepoint.jpg)
Moniepoint envisions expanding into new markets. Since its rebrand early this year from TeamApt, the company has excellently marketed the mobile money business. Moniepoint would hope that Ross's appointment is a massive step in the right direction as it would help accelerate its plans to onboard new businesses and surpass its one million merchant mark. The once-founding member of the venture capital team in the British International Investment is joining Moniepoint with about a decade of experience in investment banking and Venture Capital.
In 2022, Moniepoint recorded a total processed payment volume of over 170 billion dollars and a user base of about 600,000. Moving forward, the Nigerian-based company is keen on a growth or market expansion strategy that favors acquisitions as it intensifies efforts to push the financial inclusion agenda across Africa and especially Nigeria, as over 40% of the country's population remains unbanked.
Focus Box:
Company Name: Moniepoint
Industry: Payments, Financial Services
Founded: 2015
CEO: Tosin Eniolorunda
Funding raised: $85m (2022)
Revenue: N/A
Customer base: 600,000 businesses (2023)
Key countries: Nigeria, United Kingdom