What is Moniepoint Full Name?

Moniepoint full name is Moniepoint Microfinance Bank (MFB). The company also operates subsidiaries under different names, including Sumac MFB in Kenya and MonieWorld—which is operating under Moniepoint UK Ltd or Moniepoint GB Limited).

However, it's important to note that Moniepoint MFB is the regulated banking arm operating under the Central Bank of Nigeria (CBN). The full legal name for its global structure is Moniepoint Inc.— which was formerly TeamApt. In other words, TeamAPT was the Nigerian fintech company rebranded to Moniepoint. The company adopted that flagship product's name, Moniepoint, in 2023.

TeamApt was founded in 2015 by Tosin Eniolorunda and Felix Ike with the goal of building financial infrastructure for banks, and the name came from needing "an apt team". The rebrand to Moniepoint was meant to close the gap between the trusted consumer-facing brand and the parent company.

Moniepoint corporate structure

Moniepoint names—Moniepoint Inc. and Moniepoint MFB—is for the purpose of structural shift. Moniepoint Inc. is the parent (holding company) name and it's headquartered in London, United Kingdom. The Moniepoint MFB is the Nigeria-licensed microfinance bank subsidiary that actually processes banking transactions and deposits.

Moniepoint Inc. now serves as the parent company for Moniepoint MFB, Sumec MFB, Orda—a cloud-based restaurant management platform, Monieworld, Moniebook, and Moniepoint POS. The microfinance arm is headquartered in Lagos, Nigeria—with two head offices. 

However, the global headquarters is in the UK. The company relocated its headquarters to London as part of the ambitions to be an employer of choice globally. Moniepoint GB was incorporated on 18 February 2024, and the London expansion has cost around $3.77 million so far. The cost was part of a $7.39 million budget and the cost was used to cover the admin expenses and the Bancom equity deposit.

The UK is home to over 290,000 Nigerians, and Nigeria was the third-largest recipient of UK remittances as at 2021, with £2.76 billion transactions recorded. But currently, Moniepoint is Nigeria's largest merchant acquirer, processing about $22 billion in monthly POS transactions, and as of October 2025 processed over 1 billion transactions monthly worth more than $250 billion annually. Moniepoint also achieved a unicorn status in October 2024.