Fintech has undeniably emerged as a pivotal catalyst for financial inclusion and technological advancement across Africa and beyond. This sector continues to bridge the gap by bringing digital payment solutions closer to underserved populations, including those in remote rural areas.
Beyond its transformative role, fintech companies have proven to be major players in attracting investment capital. In the first half of 2025 alone, fintech startups accounted for 45% of the $1.42 billion raised by African startups, securing approximately $639 million. This highlights their growing influence in drawing global investors to the continent’s burgeoning tech ecosystem.
Securing funding is crucial for fintech firms to maintain market relevance and scale their operations. This article highlights the CEOs leading the top 10 African fintech companies ranked by total funding raised.
Data for this analysis was compiled from previous funding rounds and reports from reputable sources such as Africa: The Big Deal, TechCrunch, and verified funding announcements. It is important to note that undisclosed funding rounds introduce some uncertainty regarding the exact amounts raised by certain startups.
1. Mounir Nakhla – MNT-Halan
Established: 2017
Headquarters: Egypt
Funding Raised: Over $700 million
Valuation: Exceeds $1.1 billion
Mounir Nakhla, founder and CEO of MNT-Halan, brings more than 15 years of expertise in telecommunications and technology. His entrepreneurial journey began with a focus on microfinance solutions tailored for small businesses and individuals.
MNT-Halan achieved unicorn status in 2023, having raised upwards of $700 million through a combination of equity and debt financing. A significant milestone was the $400 million raised in 2023 alone. Earlier, in September 2021, the company secured $120 million from international investors.
Following its unicorn achievement, MNT-Halan raised an additional $157.5 million in July 2024, including a $40 million contribution from the International Finance Corporation. Most recently, in October 2025, the company bolstered its lending capacity by issuing $71.4 million in bonds.
2. Gotring Wuritka Dauda – OPay
Founded: 2013
Base: Nigeria/China
Capital Raised: Over $500 million
Valuation: Above $2.5 billion
After the 2023 exit of Olu Akanmu, Gotring Wuritka Dauda stepped in as Managing Director and CEO of OPay. Prior to this, Dauda was a director at the Central Bank of Nigeria’s trade and exchange department and also ran for governor in Plateau state.
Under his leadership, OPay has strengthened its position in Nigeria’s fintech landscape, especially amid heightened regulatory oversight and enhanced security measures like scam alerts. The company’s rapid growth included raising $50 million and $120 million within six months in 2019.
OPay reached unicorn status in August 2021 following a $400 million Series C round led by investors such as SoftBank Vision Fund 2, Sequoia Capital China, and Redpoint China.
3. Jesse Moore – M-KOPA
Founded: 2011
Locations: U.K. and Kenya
Funding Raised: Over $500 million
Valuation: Between $600 million and $700 million
Jesse Moore, co-founder and CEO of M-KOPA, has been instrumental in delivering connected financing solutions to underserved populations. He holds an MBA from Oxford University and a BA from the University of North Carolina.
M-KOPA has amassed over $500 million in combined equity and debt funding. In 2023, it secured $250 million in investment led by Sumitomo Corporation and Standard Bank, marking one of the largest capital raises for an African fintech. Additionally, the company raised $15 million in debt earlier that year and is approaching a $160 million Series F equity round.
4. Olugbenga Agboola – Flutterwave
Founded: 2016
Origin: Nigeria
Funding Raised: Over $475 million
Valuation: $3 billion
Before co-founding Flutterwave with Iyinoluwa Aboyeji, Olugbenga Agboola gained valuable experience as an application engineer at PayPal and product manager at Google. He also serves as Vice Chairman of the U.S.-Africa Business Centre Board.
Flutterwave is a dominant player in Africa’s cross-border payments sector, having raised over $475 million. A notable $250 million Series D round in February 2022, backed by Tiger Global and DST Global, propelled its valuation to $3 billion. Earlier, a $170 million Series C round in March 2021 marked Flutterwave as Africa’s third unicorn.
5. Ladi Delano and Jide Odunsi – Moove
Founded: 2019
Base: Nigeria
Funding Raised: Over $400 million
Valuation: Above $750 million
Ladi Delano and Jide Odunsi co-lead Moove, a mobility fintech startup. Both entrepreneurs are UK-based Nigerians with academic credentials from LSE, Oxford, and MIT. Delano has a background in entrepreneurship, while Odunsi previously worked at Goldman Sachs and McKinsey.
Moove has attracted over $400 million in funding, including a $100 million Series B round led by Uber in May 2024. Other investors include Mubadala Investment Company and Speedinvest. The company raised $76 million in August 2023 and $105 million in an oversubscribed Series A2 round in March 2022, following a $23 million Series A in 2020.
Moove aims for a $2 billion valuation as it plans to raise $300 million by late 2025 and is preparing a $1.2 billion debt round to expand into the U.S. autonomous vehicle market.
6. Dare Okoudjou – Onafriq
Founded: 2009
Headquarters: South Africa
Funding Raised: Over $300 million
Valuation: Between $300 million and $500 million
Previously known as MFS Africa, Onafriq was founded by Dare Okoudjou with the vision to build Africa’s largest digital payments network. The company focuses on omnichannel infrastructure to facilitate cross-border payments and promote financial inclusion.
Okoudjou holds an engineering degree and an MBA from INSEAD, with prior experience at MTN Group and PwC. He is also a 2021 Foundry Fellow at MIT. Onafriq has connected millions of mobile wallets and bank accounts across Africa, aiming to reduce the friction of cross-border trade.
The company raised $100 million in a Series C round in November 2021, co-led by AfricInvest FIVE and Goodwell Investments. Earlier, it secured $4.5 million in Series B funding in 2018, becoming the first African fintech funded by a China-based global investment group. In June 2022, Onafriq added another $100 million in equity and debt financing led by Admaius Capital Partners.
7. Ham Serunjogi – Chipper Cash
Founded: 2018
Origin: United States
Funding Raised: Over $300 million
Valuation: Approximately $1.25 billion
Ham Serunjogi, co-founder of Chipper Cash, was once a competitive swimmer representing his country at the Youth Olympics. The concept for Chipper Cash was conceived during a 2016 road trip with co-founder Maijid Moujaled.
Chipper Cash’s funding journey began with a $6 million seed round in December 2019, followed by $2.3 million in May 2020. It raised $13.8 million in Series A in June 2020 and $30 million in Series B later that year. A $100 million Series C round in May 2021 elevated the company to unicorn status with a $1 billion valuation, which was later extended to $2.2 billion before adjusting to $1.25 billion.
8. Mitchell Elegbe – Interswitch
Founded: 2002
Origin: Nigeria
Funding Raised: Over $300 million
Valuation: Exceeds $1 billion
Mitchell Elegbe is the founder and CEO of Interswitch. With a degree in Electrical/Electronic Engineering from the University of Benin and experience at Schlumberger and TELNET, Elegbe identified the need to revolutionize electronic payment processing in Nigeria.
Interswitch has raised over $300 million, including a $110 million investment in 2022 from LeapFrog Investments and Tana Africa Capital. The company attained unicorn status in November 2019 after Visa acquired a 20% stake through a $200 million funding round. Interswitch has expanded its footprint to countries such as Uganda, Gambia, and Kenya.
9. Karl Westvig – Tyme Bank
Founded: 2019
Origin: South Africa
Funding Raised: Over $250 million
Valuation: More than $1.4 billion
Karl Westvig was appointed CEO of Tyme Bank on October 1, 2024, succeeding Coenraad Jonker. Westvig previously led retail and business banking at Tyme and aims to elevate the bank’s customer satisfaction ranking.
Tyme Bank is recognized as one of the fastest-growing digital banks globally and the first in Africa to achieve profitability. In December 2024, it became Africa’s ninth unicorn following a $250 million Series D round led by Nubank, which invested $150 million alongside M&G Catalyst Fund and other shareholders.
10. Tosin Eniolorunda – Moniepoint
Founded: 2015
Origin: Nigeria
Funding Raised: Over $170 million
Valuation: Exceeds $1 billion
Tosin Eniolorunda began his career at Interswitch in 2009, progressing through roles such as senior software manager and product manager. In 2015, he co-founded Moniepoint (formerly TeamApt) alongside Felix Ike.
Moniepoint has raised over $170 million, including a $50 million round in August 2022 with participation from QED Investors. In November 2024, the company secured $110 million in a Series C round led by Development Partners International, with contributions from Google’s Africa Investment Fund, Verod Capital, and Lightrock. This funding round propelled Moniepoint to unicorn status, becoming Africa’s eighth fintech unicorn. Shortly after, in January 2025, it raised an additional $10 million backed by Visa.