Just two months after successfully closing its Series C funding round, Moniepoint is making a bold push to strengthen its presence in Nigeria’s business ecosystem with the launch of Moniebook, an integrated inventory-management and point-of-sale (POS) platform. This innovative tool is designed to provide business owners with real-time insights into sales, stock levels, payments, and customer interactions, offering a unified solution to streamline daily operations.
Babatunde Olofin, Managing Director of Moniepoint MFB, explained that Moniebook is built to act as a strategic growth partner for entrepreneurs, delivering a single source of truth that empowers them to take full control of their operations while making informed business decisions. “We want business owners to have clarity and visibility across all aspects of their operations, from inventory management to customer interactions, all in one place,” Olofin stated.
Moniebook represents the latest step in Moniepoint’s diversification beyond its traditional agency banking services. Over the past two years, the fintech has expanded aggressively into retail banking, offering individual and business accounts, debit cards, and a suite of payment services. Today, Moniepoint serves a combined customer base of around 10 million, handling over $250 billion in annual transactions.
The company is also exploring international markets. Its recently launched remittance service in the United Kingdom targets the African diaspora, reflecting Moniepoint’s vision of promoting “financial happiness for Africans everywhere,” a slogan that underscores the brand’s ambition to go beyond simple payments solutions.
Through Moniebook, Moniepoint aims to position itself as a full-stack business-enablement platform, equipping merchants not just with payment tools but with operational intelligence critical for growth. The service is priced starting at ₦6,000 per month, making it accessible for small and medium-sized businesses looking for practical, affordable ways to manage their operations more efficiently.
Moniepoint’s strategy is reminiscent of the approach adopted by another leading Nigerian fintech, PiggyVest. Since its launch in 2015, PiggyVest has become a dominant player in the digital savings sector, with nearly six million active users. PiggyVest has similarly strengthened its infrastructure in recent years, internalizing payments and wallet services to support its growing ecosystem. Its latest initiative, PiggyVest Business, extends its savings and investment philosophy to entrepreneurs, helping small businesses manage finances while enabling individuals to invest and grow capital.
Joshua Chibueze, Co-founder and CMO of PiggyVest, noted in October, “We’re helping individuals save and invest on PiggyVest, and now we want to empower businesses to save and invest effectively using PiggyVest Business.” By offering tools tailored for small business owners, fintechs like Moniepoint and PiggyVest aim to deepen engagement with users while providing tangible operational value.
With the introduction of Moniebook, Moniepoint is not just expanding its product line—it is redefining the role of fintech in Africa, moving from financial services provider to a comprehensive business partner for entrepreneurs across Nigeria and potentially beyond.
