TeamApt is a financial technology company focused on developing Digital Banking, Digital Business solutions and Payments Infrastructure by rethinking the needs of consumers, businesses and the financial industry.
TeamApt make easier, faster and cheaper the way banks, people and businesses in Africa perform and process financial transactions through deployment and running of digital solutions and payments infrastructure.
TeamApt was founded in 2016 by Tosin Eniolorunda. The company is headquartered in Lekki, Lagos, Nigeria.
TeamApt’s commercial bank product offerings include Moneytor— a digital banking service for financial institutions to track transactions with web and mobile interfaces—and Monnify, an enterprise software suite for small business management.
TeamApt also launched Moniepoint, an agency banking platform. Moniepoint agents use mobile apps and point-of-sale terminals to offer these customers access to financial services like cash withdrawal, cash deposit, funds transfer, airtime purchase and bill payments.
TeamApt's Moniepoint now serves 400,000 small and medium-sized businesses across Nigeria, processing over 70 million transactions worth over $5 billion monthly. Together with Monnify, TeamApt processes $100 billion in annualized run-rate transaction.
TeamApt is backed by QED Investors, Quantum Capital Partners, Novastar Ventures, Lightrock, Global Ventures, FMO, CDC Group, Endeavor Catalyst, BII, Soma Capital, and others. The company raised over $50M in Series C round on Aug 10, 2022. This brings TeamApt's total funding to $85.5M to date.