Unarguably, the fintech space has become a leading force driving financial inclusion and innovation across Africa and globally. It’s an industry that has continued to propel seamless digital payment closer to people and penetrate rural settlements.
Aside from its well-known role in driving change, fintechs are also significant in raising funds. Fintech startups secured 45% ($639 million) of the $1.42 billion raised by African startups during the first half of 2025, a testament to their impact in drawing global investors to African startups.
For the fintech industry, landing funds is as important as staying in the market and being relevant to users. For this reason, this article spotlights the CEOs of the top 10 African fintechs based on funding.
In its methodology, this article gathered numbers from past funding rounds, and sourced reports from outlets such as Africa: The Big Deal, TechCrunch and reported funding stories on this platform.
Notably, “undisclosed” funding rounds open room for uncertainty in the exact total funding secured to date for most startups.
1. Mounir Nakhla – MNT-Halan
Founded: 2017
Origin: Egypt
Amount raised: $700M+
Valuation: $1.1B+
Mounir Nakhla, the founder and CEO of MNT-Halan, has over 15 years of experience in the telecoms and technology industry and has been honoured for his contributions across Africa.
Nakhla has established himself as an entrepreneur and a significant figure in the fintech sector. His journey began over a decade ago, focusing on delivering microfinancing solutions to SMEs and individuals.
The Egyptian fintech, which reached unicorn status in 2023, has raised more than $700 million in equity and debt financing to date. Notably, the status was powered by $400 million in funding raised in 2023. In September 2021, it secured $120 million from global investors.
In July 2024, after the unicorn crown, it raised $157.5 million in funding, featuring contributions of $40 million from the International Finance Corporation.
Its latest funding was in October 2025. The fintech company secured $71.4 million through a bond issuance, further cementing its strategy of using debt to power its massive lending operations.
2. Gotring Wuritka Dauda – OPay
Founded: 2013
Origin: Nigeria/China
Amount raised: $500M+
Valuation: $2.5B+
Following the departure of Olu Akanmu in 2023, Gotring Dauda assumed the role of MD and CEO at OPay.
Before joining the fintech company, Gotring Dauda was a former director of the trade and exchange department at the Central Bank of Nigeria. He also contested for the Plateau state gubernatorial seat in the last Nigerian general elections.
Since joining, he has played a key part in its achievements. His appointment signalled OPay’s effort to navigate increased regulatory scrutiny and security features such as the scam alert.
OPay’s innovation has been driving financial inclusion and gaining more ground in Nigeria. Within six months in 2019, OPay raised $50 million and then $120 million.
The fintech company reached unicorn status in August 2021 after a $400 million Series C funding round. Some of its investors were SoftBank Vision Fund 2, Sequoia Capital China, and Redpoint China.
Also Read: “We found out that Opay operates from China”- Lawmakers flag gaps in Nigeria’s fintech regulation.
3. Jesse Moore – M-KOPA
Founded: 2011
Origin: U.K., Kenya
Amount raised: $500M+
Valuation: $600 - $700M
Jesse Moore serves as both the CEO and Co-Founder of M-KOPA. He has driven the company to provide connected financing to underbanked customers.
Jesse holds an MBA from Oxford University (Skoll Scholar) and a BA from the University of North Carolina (Morehead Scholar). He was selected by the World Economic Forum as one of 100 Young Global Leaders in 2017, and by The Business Daily as one of Kenya’s Top 40 under 40 in 2016.
The fintech company had raised over $500 million in combined debt and equity funding.
Backed by Sumitomo Corporation, Standard Bank, and M-Kopa raised $250 million in investment in 2023, one of the largest-ever capital raises for African fintech. Earlier this year, it secured an additional $15 million in debt.
Reports explained that the fintech company is nearing $160 million in Series F equity financing led by Sumitomo.
4. Olugbenga Agboola – Flutterwave
Founded: 2016
Origin: Nigeria
Amount Raised: $475M+
Valuation: $3B
Before co-founding the fintech startup with Iyinoluwa Aboyeji, Olugbenga Agboola worked as an application engineer at PayPal and held roles in product management at Google.
He is also the Vice Chairman of the U.S.-Africa Business Centre Board and a member of prominent business organisations, including the Wall Street Journal CEO Council.
To date, Flutterwave is a leading cross-border payment operator in Africa and has raised over $475 million in funding. This includes a $250 million Series D in February 2022, backed by Tiger Global, Avenir Growth, and DST Global.
In March 2021, Flutterwave raised a $170 million Series C funding round to reach a valuation of over $1 billion, making the company Africa’s third unicorn.
5. Ladi Delano and Jide Odunsi – Moove
Founded: 2019
Origin: Nigeria
Amount raised: $400M+
Valuation: $750M+
Ladi Delano and Jide Odunsi are both co-founders and co-CEOs of the African mobility fintech startup.
Delano and Odunsi, both based in the United Kingdom, are Nigerian entrepreneurs with academic backgrounds from the London School of Economics (LSE), Oxford University, and the Massachusetts Institute of Technology (MIT).
Delano was an entrepreneur, and Odunsi was a former investment banker at Goldman Sachs and a management consultant at McKinsey.
Moove has raised over $400 million in funding from investors. Investors include Uber, which led its May 2024 $100 million Series B round, Mubadala Investment Company, Speedinvest, and Stride Ventures.
In August 2023, the mobility fintech company raised $76 million, then $105 million in an oversubscribed Series A2 round (equity and debt) in March 2022. Two years earlier, it secured $23 million in Series A funding.
Moove is seeking a $2 billion valuation as it targets a $300 million funding raise by late 2025. The company is also looking to raise a $1.2 billion debt round for expansion into the U.S. autonomous vehicle market.
Also Read: Uber/Moove 100% remittance hike: AUATON demands immediate reversal.
6. Dare Okoudjou – Onafriq
Founded: 2009
Origin: South Africa
Amount raised: $300M+
Valuation: $300M to $500M
Formerly known as MFS Africa, Dare Okoudjou founded Onafriq to create Africa’s largest digital payments network, focusing on omnichannel infrastructure for cross-border payments and financial inclusion.
Okoudjou has an engineering background and an MBA from INSEAD, along with experience as a consultant and startup professional. Between February 2006 and April 2009, Dare served as MTN Group’s Senior Manager, Business Strategy and Head of MTN Mobile Money International Development.
Prior, he had an early career as a senior consultant for PwC. Dare is a 2021 Foundry Fellow at the Massachusetts Institute of Technology.
With Onafriq, his goal is to “make borders matter less” and build a lasting payment infrastructure that enhances intra-African trade and financial inclusion. The fintech company has since connected millions of mobile wallets and bank accounts across the continent.
The South African fintech has raised over $300 million in funding, including a $100 million Series C funding in November 2021. The round was co-led by AfricInvest FIVE, Goodwell Investments and LUN Partners Group.
Before that, it raised $4.5 million Series B funding led by LUN Partners Group in 2018. The development made Onafriq the first African fintech to receive funding from a China-based global investment management group.
In June 2022, Onafriq secured an additional $100 million in equity and debt funding led by Admaius Capital Partners.
7. Ham Serunjogi – Chipper Cash
Founded: 2018
Origin: United States
Amount raised: $300M+
Valuation: 1.25B+
Ham Serunjogi, who is also the co-founder of Chipper Cash, had previously been a competitive swimmer and represented his country in the Youth Olympics.
The idea that birthed the African cross-border payment services was developed by the founders during a 2016 road trip. With Maijid Moujaled, his co-founder, Serunjogi built one of Africa’s leading fintech companies.
Notably, Chipper Cash raised $6 million in a seed funding round in December 2019, plus a $2.3 million raised in May 2020.
It continued with $13.8 million raised in a Series A funding round in June 2020. A few months later, the fintech company secured another $30 million in a Series B led by Ribbit Capital.
An $100 million Series C round led by SVB Capital in May 2021 cemented Chipper Cash’s unicorn status, with a $1 billion valuation. A later extension of the Series C round in November 2021, led by FTX, further boosted its valuation to $2.2 billion.
However, the valuation was eventually slashed to $1.25 billion.
8. Mitchell Elegbe – Interswitch
Founded: 2002
Origin: Nigeria
Amount raised: $300M+
Valuation: $1B+
Mitchell Elegbe serves as both the founder and CEO of Interswitch. Elegbe’s background as an Electrical/Electronic Engineering graduate from the University of Benin, Nigeria, and experience working at Schlumberger and TELNET played a crucial role in his entrepreneurial journey.
Resulting from his professionalism, Elegbe identified the opportunity to transform electronic payment processing in Nigeria’s financial sector.
Under his watch, the fintech company has raised more than $300 million. In 2022, the company secured a $110 million investment from LeapFrog Investments and Tana Africa Capital.
Interswitch achieved unicorn status in November 2019 after Visa acquired a minority equity stake in the company. This saw a $200 million Visa-led round for a 20% share in the company.
From Nigeria, Interswitch has expanded its physical presence to several African countries, including Uganda, Gambia, and Kenya.
Also Read: PenCom unveils Interswitch, Pencentral, 7 others as new pension payment solution providers.
9. Karl Westvig – Tyme Bank
Founded: 2019
Origin: South Africa
Amount raised: $250M+
Valuation: $1.4B+
Karl Westvig was appointed Tyme Bank’s CEO on October 1, 2024. He succeeded Coenraad Jonker, who transitioned to become the Executive Chairman of Tyme Group to focus on international expansion.
Westvig was previously the company’s Chief Executive for Retail and Business Banking, bringing extensive leadership experience in lending and fintech to his role as CEO. During his appointment, he pledged to position the company among the top three in customer satisfaction.
Tyme Bank claims to be one of the world’s fastest-growing digital banks and the first to reach profitability in Africa.
In December 2024, TymeBank became Africa’s 9th unicorn with a $250 million Series D funding round. Nubank led the round with a $150 million investment, while M&G Catalyst Fund and other existing shareholders joined.
10. Tosin Eniolorunda – Moniepoint
Founded: 2015
Origin: Nigeria
Amount raised: $170M+
Valuation: $1B+
Tosin Eniolorunda joined Interswitch as a software engineer in 2009. At Interswitch, he worked as a senior software manager, unit head of application development, and product manager. In 2015, Eniolorunda left his role at Interswitch and co-founded Moniepoint (formerly TeamApt).
With his leadership and that of his Co-founder, Felix Ike, Moniepoint has secured over $170 million in funding to date. The first was a $50 million round of funding in August 2022, with investors like QED Investors participating in this round.
The fintech company secured $110 million in funding in November 2024. The Series C round was led by Development Partners International (DPI) and included participation from Google’s Africa Investment Fund, Verod Capital, and Lightrock. The round took the startup to $1 billion valuation and the 8th unicorn in Africa.
Shortly after its unicorn achievement, it secured over $10 million in Series C funding backed by Visa in January.
