Moniepoint has raised another $90 million in an extension of its Series C round, bringing its total to $200 million after its initial $110 million raise in 2024. The round included investors such as Visa, Development Partners International LLP, Leapfrog, and Alphabet Inc.’s Google Africa Investment Fund, Ross Strike, according to Bloomberg. “We will not rest on our laurels,” co-founder and CEO Tosin Eniolorunda said in a statement. “The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story – with
Online resources business Hello Alice recently announced its Series C funding round closure despite facing a controversial class-action lawsuit. The lawsuit alleges their partnership with Progressive Insurance to offer grants specifically to Black-owned businesses was racially discriminatory. Hello Alice’s Commitment to Diversity and Inclusion In October 2023, Hello Alice found itself at the center of a legal battle when America First Legal, Mitchell Law PLLC, and Ashbrook Byrne Kresge LLC filed a lawsuit alleging racial discrimination. This was due to the company’s initiative, which provided $25,000 in grants to 10 Black-owned businesses in
