Google, DPI backs African fintech Moniepoint in $110M round
Google's Africa Investment Fund has invested in African fintech Moniepoint, which secured $110 million in a Series C round led by Development Partners International.
MAIN POINTS
- Moniepoint, an African fintech, raised $110 million in a Series C funding round.
- Google's Africa Investment Fund participated as a new investor in this round.
- Development Partners International's ADP III fund led the equity sale.
- Other investors included Verod Capital and global impact investors.
TAKEAWAYS
- The investment highlights Google's commitment to supporting African fintech growth.
- Moniepoint's successful funding round underscores investor confidence in African fintech potential.
- Development Partners International continues to play a significant role in African investments.
- The involvement of diverse investors indicates a strong interest in Africa's financial technology sector.