TeamApt’s product, Moniepoint, is now a business bank

Since 2019, Moniepoint has enabled 162,000 small business owners to process over a billion transactions worth 23 trillion naira. While solving the payment problem, they realized many of Nigeria’s 41 million small businesses struggle with managing operations, taxes, insurance, and staff welfare. To solve for that and power the dreams of SMEs, Moniepoint has evolved into a business bank. 

In addition to their already solid payments solution, this expansion of Moniepoint enables Nigerians to grow their business with access to quick loans, manage operations, payroll, and staff welfare, and protect the business with affordable premiums. 

Small businesses are referred to as the bedrock of the economy for a reason. SMEs employ 84% of the country’s entire workforce and contribute 48% to Nigeria’s GDP. Their success is critical to the economic progress of the nation. 

As Nigerians, we feel the challenges of the economy acutely, in real-time. This is why we have worked hard to evolve into a business bank that truly works for the everyday Nigerian business owner. Moniepoint in addition to being a tech-enabled all-in-one business solution is also able to provide much needed 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.” says TeamApt founder and CEO, Tosin Eniolorunda. 

“Moniepoint has become everything to me. It has brought me actual freedom. Since using the service, I have transformed the lives of many,” says Abubakar Ibrahim, a businessman using Moniepoint. 

Fully licensed by NDIC, PCIDSS certified, TeamApt’s business bank, Moniepoint is poised to empower Nigerians to manage, protect, and grow their businesses. You can find out more here: moniepoint.com. 

About TeamApt

TeamApt is a financial technology company that provides a financial platform for SMEs through its business bank, Moniepoint, and payment gateway, Monnify. 

Currently enabling transactions north of $6bn monthly, TeamApt provides multi-channel payment, credit, insurance and other financial solutions to businesses, including agents and banks. 

The company acts on-ramp for the ongoing digital transformation by providing a full-stack solution that combines tech with a robust physical distribution network targeted at millions of African businesses and their customers. 

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