Norton Rose Fulbright advises Development Partners International and LeapFrog on major investment in Africa’s Moniepoint

Global law firm Norton Rose Fulbright has advised Development Partners International (DPI) and LeapFrog Investments (LeapFrog) on their investment in Moniepoint, one of Africa’s fastest growing FinTech companies.

Moniepoint is one of Nigeria’s leading business and personal banking providers and processes more than $250 billion in digital payments annually. It has been recognised for its positive impact on increasing financial inclusion across Africa. Time magazine named Moniepoint as one of its 100 Most Influential Companies this year.

Moniepoint’s Series C investment was led by DPI’s African Development (ADP) III fund, with LeapFrog anchoring the final close. Other investors included Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation, Proparco, Swedfund, and Verod Capital Management.

The fresh capital will be used to accelerate Moniepoint’s next phase of expansion, enhancing its ability to help African businesses and individuals reach their financial goals. The firm plans to continue to expand across the continent and further into global markets, continuing its mission to drive financial inclusion.

The Norton Rose Fulbright team advising DPI and LeapFrog was led by Bayo Odubeko, supported by senior associate Matthew Eccles and associate Ellen Pen. New York-partner Ryan Waggoner advised on Delaware aspects of the deal.

Bayo Odubeko, who is recognised in the latest edition of the Legal 500 for his significant experience in advising on FinTech deals across Africa, commented:

“We’re delighted to have advised DPI and LeapFrog on this landmark investment in Moniepoint, a dynamic and impactful FinTech company that is reshaping financial inclusion across Africa.”

Norton Rose Fulbright has a market leading, highly successful and long-established, global Africa practice and is ranked as a tier 1 firm for FinTech in leading legal directories. The team regularly advises on high-profile TMT and digital infrastructure transactions and investments across the continent.