By Chinenye Anuforo

TeamApt, one of Nigeria’s leading fintech companies, has relaunched its product, Moniepoint, as a merchant bank.

The company said the move is aimed at fueling the business dreams of Africa’s real economy and bringing financial happiness to all.

Since 2019, Moniepoint has enabled 162,000 small business owners to process over a billion
transactions worth N23 trillion.

While solving the payment problem, the company 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 transformed itself into a micro-finance bank.

In addition to the already strong payment solution, this Moniepoint expansion enables Nigerians to 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’s why we’ve worked hard to become a merchant bank that truly 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.

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This is in line with our mission to propel Africa’s real economy business dreams and provide financial happiness for all. says 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.