TeamApt has joined Endeavor Entrepreneurs at the 16th virtual International Selection Panel, ISP, after emerging Endeavor Entrepreneurs Fast-growing financial platform in Africa.
This was made known in a statement signed by Head, Marketing and Communications, Endeavor Nigeria, Joy Mabia, where the Managing Director & CEO, Endeavor Nigeria, Tosin Faniro-Dada, spoke about the prowess of TeamApt’s reinvention of banking and financial services to serve currently underserved populations across Africa.
TeamApt is founded by Tosin Eniolorunda and Felix Ike, and is part of a group of new mobile money operators that have driven the growth of agency banking in Nigeria by ~20X in the past 2 years.
TeamApt’s core product, Moniepoint, is an agency banking solution that enables small businesses to provide basic financial services such as deposits, withdrawals, transfers, and bill payments to their customers.
Founded in 2015, TeamApt initially built back-end office operations software and white-labelled solutions for banks before launching Moniepoint in 2019.
Faniro-Dada said: “Tosin and Felix have deep domain expertise, having met and cut their teeth as software developers at Interswitch.
“They are big thinkers. In a little under two years, they have scaled Moniepoint to over 100K agents processing $3.5B monthly.
“There are still too many Nigerians excluded from formal financial services but we are at an interesting inflexion point where fintech companies are poised to serve this population.”
At the 16th virtual ISP, panellists from around the world interviewed entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and then deliberated on which candidates should be selected to become Endeavor Entrepreneurs.
Once selected Endeavor Entrepreneurs, gain access to an unparalleled global network of business leaders, entrepreneurs, & investors who volunteer to mentor entrepreneurs as they face challenges with rapid growth.
The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs.