Oui Capital’s Impressive Journey with Moniepoint: A Success Story from Africa’s Fintech Scene
In a remarkable achievement, early-stage African investor Oui Capital has successfully returned its $4 million debut fund. This accomplishment follows the profitable sale of shares in Moniepoint, a prominent business banking platform. Oui Capital’s journey with Moniepoint is not just a testament to strategic foresight but also highlights the potential of early-stage fintech investments in Africa.
A High-Stakes Investment Pays Off
Back in 2019, when Moniepoint was still known as TeamApt, it was far from a household name. The company mainly focused on creating financial products and software for banks. Oui Capital, at the time, took a calculated risk by investing $150,000 in the Nigerian startup. Fast forward to today, and this investment has generated an impressive $8 million return.
“They have been with us through the stages, from seeking product-market fit to getting to production,” said Tosin Eniolorunda, Moniepoint co-founder and CEO.
Tosin Eniolorunda
The Turning Point: Series C Success
The pivotal moment for Oui Capital came last October during Moniepoint’s Series C funding round. With a valuation skyrocketing to $1 billion, the fintech unicorn attracted $110 million led by Development Partners International. During this round, Oui Capital strategically sold some of its shares, marking a significant milestone in their investment journey.
Navigating Africa’s Venture Landscape
Exiting investments is notoriously challenging within Africa’s tech ecosystem. According to The Big Deal, out of 2,971 venture deals since 2019, only 143 have led to exits. However, Oui Capital’s success story offers hope and highlights the lucrative potential within the continent’s burgeoning fintech sector.
Strategic Portfolio Management
Oui Capital attributes its success not merely to fund size but to a well-curated investment strategy. Managing partner Olu Oyinsan emphasizes that factors like entry price and timely exits play crucial roles in achieving favorable outcomes.
- Duplo – Digitizing payment flows for African B2B enterprises
- Maad – A B2B e-commerce platform for fast-moving consumer goods
- Matta – A B2B marketplace for chemicals
Looking Ahead
With their first fund successfully closed, Oui Capital is now setting its sights on future endeavors. Having launched a second fund called Mentors Fund 2, which closed at $12 million against an initial target of $30 million, the firm is well-positioned for continued growth. Plans for a third fund may be on the horizon later this year.
Conclusion: A Bright Future for African Fintech Investments
Oui Capital’s journey with Moniepoint exemplifies how strategic early-stage investments can yield substantial returns in Africa’s evolving tech landscape. As more investors recognize the continent’s potential, stories like these will hopefully become more common, fostering growth and innovation across African markets.
