At 40, Tosin Eniolorunda, founder of fintech giant Moniepoint, is a leading figure among Nigeria’s young entrepreneurs, with his stake valued at over $100 million.
His path to success has been anything but easy.Before Moniepoint’s launch in 2017, Eniolorunda ran TeamApt, a software consultancy that provided vital banking solutions for clients like Sterling Bank.
However, a critical blow came when Sterling terminated their contract, threatening his business. “How I made it to my destination after reading that email remains a miracle,” he said.In response to this crisis, Eniolorunda pivoted from consulting to product development, creating Moniepoint—a platform aimed at democratizing financial services for underserved Nigerians.
To realize this vision, he secured a $150,000 investment from Olu Oyinsan of Oui Capital, who recognized Eniolorunda’s expertise in banking infrastructure.
Today, Moniepoint is a unicorn valued at over $1 billion, processing billions in transactions monthly. Oui Capital’s initial investment has soared to over $10 million, with a partial exit of $8 million achieved last month.
Eniolorunda’s journey reflects the potential of African fintech, transforming challenges into opportunities and reshaping financial access for millions.
Moniepoint’s success signals a new era in Nigeria’s tech landscape, exemplifying how vision and determination can yield remarkable results.
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