By Funsho Arogundade
Tosin Eniolorunda is one of Nigeria’s influential tech entrepreneurs transforming old systems. The co-founder and Group CEO of Moniepoint Inc. is one of Nigeria’s culture shapers – a term that resonates beyond celebrity to encompass people leveraging their expertise for collective progress. Eniolorunda is excelling in his core endeavours – fintech. He embodies Nigeria’s resilience and reinvention spirit. Before starting Moniepoint with Felix Ike in 2015, Eniolorunda served as a product manager and Software Architect at Interswitch for six years. As someone who enjoys the thrills of the challenges and risks of starting and nurturing enterprises that affect humanity, he finds it fulfilling to lead a team of talented individuals towards achieving a worthy ideal, changing the status quo and making a mark.
Eniolorunda recognised Nigeria’s need for accessible, user-friendly financial solutions. Since its inception about 10 years ago, Eniolorunda has transformed Moniepoint into an organisation with a seven-figure dollar revenue. He has turned the fintech powerhouse into the backbone of Nigeria’s business payments landscape, serving over 600,000 enterprises, processing more than one billion transactions monthly with a total payment volume surpassing $22 billion. The numbers do not just impress —they redefine expectations for African financial technology.
It is one thing to build a thriving fintech firm; it is another to earn the trust of global giants. October 2024 marked a defining moment as Moniepoint achieved unicorn status by securing a $110 million Series C funding round, backed by investors like Google, propelling its valuation past $1billion. Moreover, Visa Inc.’s recent strategic investment in Moniepoint is a nod to the company’s rapid success. But what truly sets this achievement apart is its purpose: financial inclusion for Africa’s overlooked businesses, a mission that carries weight beyond profits.
Eniolorunda’s impact in fact extends beyond Nigeria. Moniepoint’s acquisition of Kenyan fintech Kopo Kopo and a $3million investment in Payday, for example, show a broader ambition. The journey of Eniolorunda is not just one of a rise in status; it is a masterclass in resilience, vision, and impact. Only a few built empires from personal savings, but Eniolorunda did as he left Interswitch with N15 million in savings to build a multi-billion dollar Moniepoint. His flight to greatness embodies a narrative of ambition refined by persistence.