Tosin Eniolorunda’s Moniepoint Leading Nigeria’s Fintech

Tosin Eniolorunda, founder, and CEO of Moniepoint Inc., has been breaking new boundaries and upscaling his company in the Nigerian financial technology industry.

Eniolorunda started out his career at Interswitch, a leading integrated payment and transaction company in Nigeria, as a Senior Software Engineer in 2009.

Having spent three years at the company, he was promoted to unit head at Interswitch in charge of Industry Verticals and Solutions, and later to the position of product manager. Within the years, he was honing his leadership and managerial skills and broadening his knowledge of the African financial technology industry.

In 2015, Eniolorunda founded Moniepoint Inc (formerly Apt Inc.), a fintech company focused on providing financial solutions for businesses with a vision to create a society where everyone experiences financial happiness.

They started out by y building solutions and tools for businesses and individuals to happily manage money and eventually grew to become a global business payment and banking platform and recently became QED Investors’ first investment in Africa.

Eniolorunda has led Moniepoint to emerge as one of the top fintech companies in Nigeria, meeting the needs of entrepreneurs and providing them with equal access to the tools they need to grow and scale.

Since its exception, over 600,000 businesses of different sizes have secured a partnership operating as Nigeria’s largest business payments platform.

The company recorded an annual run-rate transaction value of  $170 billion in the first quarter of 2023 alone, it processed $43 billion in transaction value.

With more than 1 billion transactions processed in the first quarter of 2023, Moniepoint this year is on track to surpass its annual run-rate transaction value of $170 billion which can be attributed to Eniolorunda’s leadership.

He also led the company in reducing processing failures to just 10 percent daily and cutting downtime by 60 percent in the same quarter.

Also in the first three months of the year, Moniepoint’s POS requests also skyrocketed by 1,000 percent, driven by the cash crunch in the country during the period under review.

His success was also extended to his involvement in the broader African fintech industry which included a series of funding rounds in promising African startups, including a $3-million investment in Payday, a fintech startup providing global accounts to Africans.

Moniepoint has cemented its place as a leader in the African fintech industry as Nigeria’s largest business payments platform.

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