We started the year with the decision to fully pivot from our Business-to-bank solutions (Profectus and Moneytor) to our Business-to-consumer products (Moniepoint and Monnify). We recognised the need to address the financial inclusion gap & create financial services for underserved businesses & customers.

Going Remote

In March, the Covid-19 pandemic hit and it brought new challenges no one was prepared for. It forced us to change the way we live, how we connect with each other and most importantly how we work. We couldn’t shut down so we had to work remotely, a move that Aptians took in their stride and produced their highest productivity levels even with all the craziness happening everywhere.



Moniepoint, grew as a product and as a business. Our obsession with reliability and our nimble approach, made Moniepoint the preferred agency banking platform with agents. We added features that made it easier for agents to manage their businesses and provide adequate service & support to customers without them having to visit a bank branch.

Furthermore, the strain the pandemic placed on traditional bank operations highlighted the need for individuals to go beyond bank branches to access basic financial services.This saw us receive increased patronage and in turn become the financial access lifeline for over 3 million Nigerians. All these meant that by the end of 2020 we were the largest non-bank mobile money platform in Nigeria. Not bad for a relatively young mobile money entrant.

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As the pioneer pay by account transfer account product, it’s not unusual for Monnify to lead in innovation. The goal for Monnify has always to become an organic extension of the businesses we serve. In 2020, We constantly pondered how we could make it easier for businesses to collect and manage their money in such a turbulent period in history, and every feature we released did just that..

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With rapid growth comes new challenges and opportunities, so we needed to grow our infrastructure to match the increased demand for our solutions. To do this we built a proprietary Core Banking Application (CBA) called IRIS.

IRIS processes our daily transactions and scales gracefully to meet the high volume accounting needs of our products with impressive throughput. We are especially proud of this feat as it is very capital intensive to purchase one.

as a Family

For us, growth is beyond revenue; it extends to also capture the success of every Aptian. Every Aptian matters and the work that they do remains significant to the growth of our company.

In 2020, our staff size doubled. We started the year with 119 Aptians and are ending it with 223 Aptians, that’s two new hires ever week. New Aptians mean more innovative and interesting minds to work on existing and upcoming products. This is all in a bid to expand our business and eliminate employee burnout.

$3.9Bn Transaction Value

90M Transaction Volume

50k Agent number

900% Agent Growth

500%Merchant Growth


OUR IMPACT Touching Lives

As an impact conscious organisation, we actively seek to create a positive impact in ways beyond making profits for the company. At our core lies the decision to create intentional impact. Behind our products and accompanying transactions are individuals and communities in need and how many of these individual lives we can improve is what we judge ourselves by. Here’s how we made a difference in 2020:

We enabled a financial access lifeline for

4M People

We directly & indirectly created employment for

40k People

Our GDP contribution through empowering our staff, agents & merchants, is estimated at

N80 Billion

Forward & Beyond

2020 has been a transformational year for everyone. As we end the year and begin to look into the New Year, we are optimistic about the huge opportunities that await us. Our mission remains to bring financial access to the underserved.

The wonderful results we achieved in 2020 were made possible by every team member and the core values we share. Enabled by our capabilities and deep understanding of creating financial happiness, we are prepared to innovate at every step of this journey. We are excited to embrace new opportunities and collaborations, and to continue impacting our society through our innovative product range.

Again, we are very excited about 2021, as we have so many exciting projects on deck. Some of these projects include:

International expansion, two more large economies

Launch of formal credit product with regulatory approval

Deepen financial inclusion in Nigeria

Launch of consumer financial management application

I am confident in our resilience as a business to successfully implement these projects. Lastly, I would like to say a huge thank you to every individual connected to TeamApt, for all your support and commitment throughout the year. I will also like to thank our customers- we remain committed to delivering products and services that serve your best interest. Thank you for a great 2020.

Best wishes and enjoy a better 2021.

Tosin Eniolorunda Founder & CEO, TeamApt Limited