The Weekly Wrap: all you need to know by Friday COB | Oct 31st

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

Moniepoint Inc. has secured $200 million Series C funding round to drive inclusive digital financial services across the continent and beyond.

The round was led by Development Partners International’s African Development (ADP) III fund, with the final close anchored by LeapFrog Investments, alongside participation from a distinguished group of global investors, including Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, and Verod Capital Management.

This strategic investment underscores Moniepoint’s position as one of Africa’s most resilient FinTech innovators and one of the few globally to achieve profitability at unicorn scale. With more than 10 million active business and retail banking customers and annual transaction volumes exceeding $250 billion, Moniepoint continues to transform how African enterprises and individuals access, manage, and grow their finances.

The proceeds from the Series C round will support Moniepoint’s next phase of expansion, further strengthening its capacity to serve Africa’s vast network of micro, small, and medium-sized enterprises (MSMEs) and deepening its reach into new international markets. The investment also reinforces Moniepoint’s role as a catalyst for financial inclusion and digital transformation, enabling greater accessibility to affordable, secure, and transparent financial solutions.

Deals of the week

• Drip Capital secures $50m to boost trade finance
• Moniepoint secures $200m to drive Africa’s digital finance growth
• Tipalti secures $200m to accelerate global AI-driven growth
• Paygentic secures $2m for AI payments platform
• Barclays and Visa partner to accelerate digital payments
• Allica Bank acquires Kriya to redefine SME lending
• Mint Payments taps Travel Network to modernise travel payments

Be on the lookout for

Nominations Closed!!

The IBSi Global FinTech Innovation Awards 2025, set to take place on 21st November in Mumbai, will once again spotlight the most disruptive and transformative achievements in banking and financial technology. Now in its seventh year, the awards honour innovation across high-impact categories such as Core Banking, Digital Lending, AI/ML, and GenAI.

After a record-breaking 2024 edition—which drew 400+ submissions from 155 banks and 90 tech vendors—the upcoming awards are poised to set an even higher benchmark. Expect broader global participation, richer insights into bank–tech collaboration, and a data-driven judging process powered by IBS Intelligence’s proprietary research and analytics.

Beyond trophies, winners benefit from year-long visibility through editorial features, thought leadership opportunities, and industry event integrations—making this a platform not just for recognition, but for continued growth and influence.

The stage is set, nominations are in—now the countdown begins to GFIA 2025. Stay tuned as we celebrate the innovators reshaping the future of global FinTech.