You know those stories that make you believe in the power of perseverance and vision? Tosin Eniolurunda’s journey is one of them.
Raised in Ibadan, Nigeria, Tosin’s early life was rooted in a community where challenges were plenty, but so was potential. At just 16, he apprenticed at an electronics workshop, eager to understand how things worked. This hands-on experience laid the foundation for his future endeavors. He pursued Mechanical Engineering at Obafemi Awolowo University, where he didn’t just study; he innovated. Tosin funded his education by assisting fellow students with their engineering projects, showcasing his entrepreneurial spirit even then.
After university, Tosin joined Interswitch, a leading Nigerian digital payments company, where he honed his skills as a software engineer. But his ambition didn’t stop there. In 2015, driven by a desire to address the financial challenges faced by many Nigerians, he co-founded TeamApt, which later rebranded to Moniepoint.
Moniepoint’s mission was clear: provide accessible financial services to underserved communities. Starting with payment solutions for businesses, the company rapidly expanded its offerings. By 2023, Moniepoint was processing over ₦8 trillion in monthly transactions, serving millions of businesses across Nigeria.
However, the journey wasn’t without its hurdles. Navigating Nigeria’s complex regulatory environment, infrastructural challenges, and the need to build trust among a largely unbanked population required resilience and innovation. Tosin’s leadership was instrumental in steering Moniepoint through these challenges, ensuring the company remained focused on its mission.
The world took notice. In 2024, Moniepoint achieved unicorn status after raising $110 million in a funding round led by Development Partners International and supported by Google Africa Investment Fund. This milestone not only valued the company at over $1 billion but also set the stage for its expansion into other African markets.
What sets Tosin apart is his deep understanding of local challenges and his commitment to creating solutions tailored to them. His journey from a curious teenager in Ibadan to the helm of one of Africa’s leading fintech companies has earned him awards such as Outstanding Fintech Personality of the Year (2024), Legit Business Leaders Award (2025), etc.
Some Takeaways From Tosin’s Entrepreneurial Journey
- Start with Purpose: Tosin’s ventures were driven by a clear mission to address real challenges faced by everyday Nigerians. The purpose that impacts lives is the purpose that stands the test of time.
- Embrace Challenges: Navigating regulatory and infrastructural hurdles required resilience and adaptability.
Challenges are a necessary part of any process or journey; so broaden to your mind to contain possibilities. - Invest in People: Building a team that shares your vision is crucial for sustained growth. Hire interns, train your staff, build connections with business peers for a strong network.
- Stay Grounded: Despite significant achievements, Tosin remains focused on the core mission of financial inclusion.
It is important to clarify the mission of your project so that you do not lose sight of the goal when both the wins and losses come. - Think Long-Term: Strategic decisions, like rebranding and expanding services, were made with a long-term vision in mind.
In building a brand or starting a business, keep the long term goal in mind when making decisions. Make sure that what serves now, will not hinder tomorrow.
Tosin’s journey shows that when you combine vision, grit, and a heart for real impact, you can build something that reaches far beyond where you started, and makes generational impact.
