Moniepoint is now one of the biggest names in Nigeria’s fintech industry, especially among businesses that rely on POS terminals, payment services and digital banking tools. But many people still ask a simple question: When exactly was Moniepoint founded?
The company traces its beginning to 2015, when it was established under a different name — TeamApt.
Over the years, the business expanded beyond banking technology and eventually became the Moniepoint brand that millions of Nigerians know today.
Read also: Who Owns Moniepoint? Founders, Investors and Ownership Explained
This article explains Moniepoint’s founding year, how the company developed, and the major milestones that shaped its growth.
Moniepoint Was Founded in 2015
Moniepoint began in 2015 as a financial technology company called TeamApt.
The company was founded by Tosin Eniolorunda and Felix Ike, who started the business to build software and payment solutions for financial institutions.
At that time, Moniepoint did not exist as a consumer-facing brand. Instead, TeamApt focused mainly on creating technology that banks and other financial institutions could use to process payments and improve operations.
According to Moniepoint, the company later expanded its services and eventually adopted the Moniepoint identity that is widely recognized today.
Why Did Moniepoint Start as TeamApt?
Many fintech companies begin by solving a specific problem before expanding into other areas.
For TeamApt, the original goal was to provide technology infrastructure for banks.
As Nigeria’s digital payment industry grew, the company identified a bigger opportunity: offering financial services directly to businesses.
This shift led to the development of products such as:
- Business accounts
- POS services
- Payment solutions
- Credit products
- Banking tools for small businesses
The move helped transform TeamApt from a technology provider into a broader financial services company.
A Timeline of Moniepoint’s Growth
The history of Moniepoint becomes easier to understand when viewed as a timeline.
| Year | Milestone |
|---|---|
| 2015 | TeamApt was founded by Tosin Eniolorunda and Felix Ike |
| 2019–2022 | Expansion into business banking and payment services |
| 2023 | TeamApt rebranded to Moniepoint Inc. |
| 2024 | Moniepoint became a unicorn after raising major investment funding |
| 2025 | The company announced additional large-scale investment rounds |
This timeline shows that while Moniepoint as a brand became popular later, the company’s roots go back to 2015.
When Did the Name Moniepoint Appear?
A common misunderstanding is that Moniepoint started in the same year the Moniepoint name became popular.
That is not exactly correct.
The business existed for years as TeamApt before adopting the Moniepoint identity.
In 2023, TeamApt announced that it had rebranded as Moniepoint Inc. The company explained that the new name better reflected the scale of its operations and the services it offered across Africa.
This means:
- 2015: Company founded as TeamApt
- 2023: Parent company renamed Moniepoint Inc.
Both dates are important, but when people ask, “When was Moniepoint founded?” the correct answer is 2015.
What Was Happening in Nigeria’s Fintech Industry in 2015?
Understanding the period when Moniepoint started gives useful context.
In 2015:
- Digital payments in Nigeria were growing rapidly.
- More Nigerians were adopting smartphones.
- Businesses needed faster payment systems.
- Fintech companies were beginning to attract major investments.
This environment created opportunities for companies building financial technology solutions.
Moniepoint entered the market at a time when Nigeria’s payment ecosystem was changing quickly, and that timing helped shape its growth.
How Long Has Moniepoint Been in Business?
Since Moniepoint was founded in 2015, the company has operated for more than a decade.
This long operating history is one reason many businesses trust its products and services.
For a fintech company, surviving and expanding for many years is significant because the industry is highly competitive.
Over that period, Moniepoint moved through different stages:
- Technology provider
- Payment company
- Business banking platform
- Multi-service fintech group
This gradual development explains why Moniepoint now serves millions of users and businesses.
Why Does the Founding Year Matter?
People search for a company’s founding year for different reasons.
Some users simply want historical information, while others want to know:
- How experienced the company is
- Whether the business is well established
- How long it has operated in Nigeria
- Its growth journey
A company founded in 2015 has had years to develop products, build infrastructure and expand its customer base.
For businesses that use financial services, this information can help provide context about the company’s history.
Moniepoint at a Glance
| Detail | Information |
|---|---|
| Founded | 2015 |
| Original Name | TeamApt |
| Current Parent Company Name | Moniepoint Inc. |
| Founders | Tosin Eniolorunda and Felix Ike |
| Industry | Financial Technology (Fintech) |
| Headquarters | Nigeria |
Frequently Asked Questions
Was Moniepoint founded in 2023?
No. Moniepoint was founded in 2015 under the name TeamApt. The company adopted the Moniepoint Inc. name in 2023.
What was Moniepoint called before?
Before becoming Moniepoint, the company operated as TeamApt.
How old is Moniepoint?
A company founded in 2015 has been operating for more than ten years.
Who founded Moniepoint?
Moniepoint was founded by Tosin Eniolorunda and Felix Ike.
Why did TeamApt become Moniepoint?
The company explained that the rebrand reflected its growth from a banking technology provider into a broader financial services company.
Conclusion
Moniepoint’s story began in 2015, not as the popular fintech brand Nigerians know today, but as a technology company called TeamApt.
Over time, the company expanded beyond banking infrastructure, introduced new financial products and eventually adopted the Moniepoint name in 2023.
So, if you are searching for the exact answer to “When was Moniepoint founded?”, the answer is simple:
Moniepoint was founded in 2015 by Tosin Eniolorunda and Felix Ike.