The TIME100 Most Influential Companies list for 2025 highlights Nigeria's role in global financial innovation. Two outstanding companies, Moniepoint and Flutterwave, draw attention for their significant contributions to economic development.
Moniepoint: Leader of Change in Business Banking
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint initially provided infrastructure for banks but soon shifted to being a full-fledged business banking platform. This transformation became especially crucial during Nigeria's cash crisis in 2023 when Moniepoint kept commerce alive for millions. Today, the company reportedly processes over 800 million transactions monthly, valued at $17 billion.
In 2024, Moniepoint raised $110 million in funding from investors such as Google, marking a significant step towards unicorn status. Tosin Eniolorunda described the TIME100 recognition as: "This recognition by TIME is a powerful validation of the work we do every day to create financial happiness for millions of people and businesses in Africa."
Flutterwave: Titan of Payment Ecosystem
Flutterwave, named a Titan, connects African businesses to the global market. The company processes billions in transactions across 17 countries, enabling seamless cross-border payments. During the 2020 lockdowns, Flutterwave helped 20,000 small businesses move online, handling $7.5 billion in transactions. The platform allows merchants to accept payments in multiple currencies, from mobile money to card transactions, simplifying trade in a fragmented region. Flutterwave's story is an example of how ambition and innovation can reshape the fintech landscape.
Overall Impact and Achievements of the Companies
Moniepoint and Flutterwave, despite their differences, share a common goal of empowering Africans through technology. Moniepoint focuses on the granular needs of small businesses, while Flutterwave creates connections between Africa and the world. Both companies inspire a new generation of entrepreneurs and highlight Nigeria's growing influence in the global fintech ecosystem. Their recognition in the TIME100 list signifies the importance of their achievements and potential for further growth.
The inclusion of Moniepoint and Flutterwave in the TIME100 list is recognition of their contributions to the development of financial technologies in Nigeria. These companies demonstrate how innovation can change economic structures and improve the quality of life by providing access to financial tools and services.
