TeamApt’s Moniepoint relaunches as a full-service merchant bank


TeamApt, one of Nigeria’s leading Fintechs, has relaunched its product, Moniepoint, as a full-service merchant bank.

Since 2019, Moniepoint has enabled 162,000 small business owners to process over 1 billion transactions worth N23 trillion. While solving the payment problem, they realized that many of Nigeria’s 41 million small businesses were struggling to manage operations, taxes, insurance and staff welfare. To solve this problem and fuel the dreams of SMEs, Moniepoint has become a full-service merchant bank.

It was revealed during the product launch that in addition to their payment solution, this Moniepoint extension allows

Nigerians can grow their business with access to fast loans, manage operations, payroll and staff welfare, and protect the business with affordable premiums.

“Small businesses are considered the foundation of the economy for a reason. SMEs employ 84% of the entire workforce in the country and contribute 48% to Nigeria’s GDP. Their success is essential to the economic progress of the nation.

“As Nigerians, we feel the challenges of the economy acutely, in real time. That is why we have worked hard to become a merchant bank that really works for the everyday Nigerian business owner. Moniepoint, in addition to being an all-in-one technology-based business solution, is also able to provide much-needed last mile service delivery.This is in line with our mission to power business dreams. Africa’s real economy and provide financial happiness to all,” said TeamApt Founder and CEO, Tosin Eniolorunda.

“Moniepoint has become everything to me. It gave me real freedom. Since using the service, I have transformed many people’s lives,” says Abubakar Ibrahim, a businessman using Moniepoint.

Fully licensed by NDIC, certified PCIDSS, TeamApt’s full-service merchant bank, Moniepoint is poised to empower Nigerians to manage, protect and grow their businesses.


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