At just 40, Tosin is among the wealthiest and brightest young minds in Nigeria today, with estimates placing his stake in Moniepoint at over $100 million. However, his journey was not always marked by success. Before founding Moniepoint in 2017, he was a tech entrepreneur managing a software consulting firm that created operational solutions and banking applications for financial institutions in Nigeria.
The turning point came when Sterling Bank unexpectedly severed ties with his company. Stranded and anxious on Ikoyi Road after receiving the email, Tosin faced a daunting setback. How he managed to navigate that moment speaks volumes about his resilience. Instead of surrendering, Tosin rallied his team, and together they conceptualized Moniepoint.
A crucial player in his journey was Olu Oyinsan of Oui Capital, who recognized Tosin's potential and invested $150,000 in 2019, acquiring a 1.2% stake in Moniepoint. “His understanding of the banking technology stack and payment infrastructure was impressive. I knew he was up to something exciting,” recalled Oyinsan.
Fast forward five years, and Moniepoint has blossomed into a unicorn valued at over $1 billion. That $150,000 investment has skyrocketed to an estimated $20 million, with Oyinsan's team recently cashing out $8 million, a testament to successful venture capital investment in Nigeria’s nascent tech ecosystem.
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