Google-Backed Moniepoint Raises $110 Million for Expansion
- Payments services provider eyes Francophone countries to grow
- Fresh funds seen driving payment company to unicorn status
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Moniepoint, a Nigerian cash-transfer startup, raised $110 million in an equity sale to expand in home market and across Africa, the chief executive said.
The Series C funding round, backed by an Africa investment fund owned by Google and Development Partners International LLP, will enable the firm start cross-border remittances and extend banking services into francophone African countries, Tosin Eniolorunda, founder and chief executive said.