TIME’s prestigious annual list, now in its fifth year, recognizes 100 firms across the world that are making outstanding contributions to their sectors.
Moniepoint Inc
Nigeria’s Moniepoint Inc. was listed in the Leaders category with Hyundai, GoFundMe, and LinkedIn. With 90% of Nigeria’s 40 million small and medium-sized firms still functioning in the informal sector, Moniepoint has played an important role in assisting these businesses to shift to legal structures.
The company provides comprehensive banking solutions that enable informal enterprises to transition away from cash transactions, obtain loans, and grow sustainably.
“For us, ‘financial inclusion’ isn’t just a buzzword, it’s the difference between survival and growth,” says CEO and cofounder Tosin Eniolorunda
Moniepoint secured its reputation as one of Africa’s most valuable fintechs in October 2024, receiving $110 million in equity funding and driving it into unicorn territory.
Flutterwave
Flutterwave, another Nigerian financial success story, was recognized in the Titans category with global behemoths like Meta, Amazon, and OpenAI.
The company has transformed digital payments in Africa, providing vital infrastructure for businesses to send and receive money easily across borders.
In 2024, the Nigerian firm, currently valued at $3 billion, extended its money transfer services to all U.S. states except Texas through its Send App, which, according to the business, completes almost all (98%) transactions in three minutes.
Digital payment solutions for businesses in Saudi Arabia and Turkey were also introduced by Flutterwave.
“I wish it was boring, we’re here for the long game,” Agboola, the company’s CEO, stated.
Tyme
Tyme, a company that operates in South Africa, joined the Pioneers category among innovators such as SpaceX and Equinor.
Tyme became one of Africa’s newest unicorns in December 2024, when it raised $250 million in a Series D fundraising round.
Meeting underbanked people where they are has been the driving force behind Tyme Group’s unique multi-country development trajectory.
The Singapore-based digital bank now serves around 17.5 million retail customers in South Africa and the Philippines.
“You can walk into a grocery store in South Africa and open a bank account with us in under three minutes,” says Chief Growth Officer Rachel Freeman.
