Nigerian financial technology fintech, Moniepoint has achieved “unicorn” status after securing $110m in funding from investors, including Google and London-based private equity firm Development Partners International.
The term unicorn refers to a privately held startup company with a value of over $1 billion.
The nine-year-old startup made this known in a statement issued on Tuesday.
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As a result of the investment, Moniepoint’s valuation surged to over $1bn for the first time.
“The capital raised will be used to accelerate Moniepoint’s growth across Africa, building an all-in-one, seamlessly integrated platform for African businesses of all sizes.
“This platform will include services such as digital payments, banking, foreign exchange, credit, and business management tools, making it a one-stop shop for business solutions,” the startup said.
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