Moniepoint Inc, Africa’s top digital financial services provider, has announced that it has been included in the sixth annual CB Insights’ Fintech 100 ranking (formerly known as the Fintech 250), which showcases the 100 most promising private fintech businesses of 2023.
This announcement comes after Moniepoint Inc. made the same announcement last year.
The most respected analysts in the field agree that CB Insights is the most reliable source for data and analysis regarding the technology sector. The Fintech 100 is comprised of a diverse group of firms, each of which is at a distinct point in terms of maturity, product development, and finance. Since 2019, the cohort has brought in roughly $22 billion in equity capital via 381 separate deals.
The research team chose these Fintech 100 winners from a pool of more than 19,000 private enterprises, including applications and nominations, by making use of the CB Insights platform, which combines machine learning, algorithms, data, and visualizations.
These businesses were selected based on a variety of criteria, including technological novelty and market potential, as well as factors such as equity funding, investor profiles, business relationships, research and development activity, news sentiment analysis, competitive landscape, and proprietary Mosaic scores.
Read also: Kenya authorities approve Moniepoint’s acquisition of Kopo Kopo
Remarks
“We are honored to be recognized by CB Insights as one of the top 100 fintech companies of 2023. This listing validates our unwavering commitment towards powering dreams and driving financial happiness for everyone. It is also a strong reflection on our momentum in terms of growth, innovation and making a real difference in the marketplace,” said Tosin Eniolorunda, Group CEO of Moniepoint Inc.
He added: “Our team has worked tirelessly to deliver innovative solutions that empower individuals and businesses across Africa with accessible, efficient, and secure digital financial services. This recognition is testament to our efforts in enhancing financial inclusion and transforming the lives of millions across the continent.”
It is important to remember that Moniepoint Inc., which has been recognized by the prestigious Financial Times as Africa’s second fastest-growing firm, is currently providing its services to more than 1.7 million enterprises, assisting them in the processing of more than $100 billion in 2022.
According to Chris Bendtsen, Lead Fintech Analyst at CB Insights, the Fintech 100 of this year is impacting the future of real-time payments, spend management automation, embedded finance, and other areas of finance. These companies come from 24 different nations throughout the globe.
“Together, they are not only increasing the pace of innovation, but launching new products and features to revolutionize the industry as a whole. I cannot wait to see what this cohort accomplishes next.”
How Moniepoint helps businesses
Moniepoint is primarily interested in serving firms that fall into the categories of small and medium-sized enterprises. This is due to the fact that they play a significant part in not just sustaining the economy but also influencing people’s day-to-day lives. It’s the kind of place you may pop into on your way to work for a quick bite to eat or later in the day when you need to pick up some essentials like groceries or other items or anything else along those lines.
The first step that Moniepoint took toward empowering these companies was to make it possible for them to obtain the same services that their more conventional competitors had been using for some time. Because of this, banking solutions make up the majority of the fintech company’s offerings. They also supply them with POS terminals to ensure a smooth payment processing experience.
When they are banked in this fashion, they become recognizable entities in the financial world. They have a track record of sales, valuable business insights, and a fairly outlined plan for future expansion. Because of this, they go from being dangerous enterprises that are difficult to reach to being tangible organizations that also have a lot of data.
