Fast-growing financial platform in Africa joins the leading global entrepreneur support organisation
Lagos, June 25 — Endeavor announced today that Tosin Eniolorunda and Felix Ike, Co-Founders of TeamApt were selected as Endeavor Entrepreneurs at the 16th virtual International Selection Panel (ISP).
The ISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs. These entrepreneurs have demonstrated the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs. They’re committed to reinvesting their time and money in their local entrepreneurship ecosystems.
Founded by Tosin Eniolorunda and Felix Ike, TeamApt is part of a group of new mobile money operators that have driven the growth of agency banking in Nigeria by ~20X in the past 2 years. TeamApt’s core product, Moniepoint, is an agency banking solution that enables small businesses to provide basic financial services such as deposits, withdrawals, transfers, and bill payments to their customers. Founded in 2015, TeamApt initially built back-end office operations software and white-labelled solutions for banks before launching Moniepoint in 2019.
“TeamApt is reinventing banking and financial services to serve currently underserved populations across Africa. Tosin and Felix have deep domain expertise, having met and cut their teeth as software developers at Interswitch. They are big thinkers. In a little under 2 years, they have scaled Moniepoint to over 100K agents processing $3.5B monthly. We are excited to support the entrepreneurs as they increase access to financial services across the country and the rest of Africa.” said Tosin Faniro-Dada, Managing Director & CEO, Endeavor Nigeria. “There are still too many Nigerians excluded from formal financial services but we are at an interesting inflection point where fintech companies are poised to serve this population.”
Speaking on their ISP experience and joining the Endeavor network, Tosin Eniolorunda, CEO of TeamApt said, “I believe it’s an exciting time to join the Endeavor network of high impact entrepreneurs, and I’m delighted for the opportunity. Felix and I look forward to accessing the abundance of knowledge and expertise within this network, as we continue on our mission to close Africa’s financial inclusion gap.”
L-R: Tosin Eniolorunda (founder and CEO of TeamApt) and Felix Ike (Chief Technology Officer, TeamApt)
Tosin Eniolorunda and Felix Ike were selected into the Endeavor network in a unanimous vote by a panel of global business leaders including Sylvia Mulinge (Chief Customer Officer, Safaricom PLC & Board Member, Endeavor Kenya), Edgar Bronfman Jr (General Partner, Waverley Capital & Global Board Chair, Endeavor), Keri Gohman (Partner, Bain Capital Ventures), Arif P. Rachmat (Co-Founder and Executive Chairman, TAP Group & Board Member, Endeavor Indonesia), Kevin Ryan (Chairman and CEO, AlleyCorp), and Shailesh Rao (Advisor/Investor, Venture Highway, and BigSpring).
At the 16th virtual ISP, panelists from around the world interviewed entrepreneur candidates about their businesses, evaluating them on their potential for high-impact growth, and then deliberated on which candidates should be selected to become Endeavor Entrepreneurs. Once selected, Endeavor Entrepreneurs gain access to an unparalleled global network of business leaders, entrepreneurs, & investors who volunteer to mentor entrepreneurs as they face challenges with rapid growth.
“I’m excited to welcome Tosin and Felix into the Endeavor network. Their business is an exciting venture for the Nigerian market. We look forward to supporting the newest Endeavor Entrepreneurs in their journeys to scale, and welcoming them into our global network!” said Endeavor Co-Founder and CEO, Linda Rottenberg.
TeamApt is the 12th company selected into the global Endeavor network through the regional affiliated office in Nigeria. The two entrepreneurs represent the growing expectation for exceptional entrepreneurs with big ambitions and the ability to execute at scale. They join Gbenga Agboola & Ife Orioke (Flutterwave), Ngozi Dozie & Chijioke Dozie (Carbon), Etop Ikpe (Autochek), Abasi Ene-Obong (54gene), Tayo Oviosu & Jay Alabraba (Paga), Ekechi Nwokah (Migo), Jasper Graf von Hardenberg & Christian Wessels (Daystar Power), Bukky George (HealthPlus), Obi Ozor & Ife Oyedele (Kobo360), Kene Okwuosa & Moses Babatope (FilmHouse Group) and Onyekachi Izukanne, Michael Ukpong & Ruke Awaritefe (TradeDepot).
Endeavor is the world’s leading community of high-impact entrepreneurs. Founded in 1997, Endeavor is a global organization with a mission to unlock the transformational power of entrepreneurship by selecting, supporting, and investing in the world’s top founders. Today, Endeavor’s network spans nearly 40 countries and supports more than 2,000 entrepreneurs, whose companies generate combined revenues of over $28 billion US, have created more than 3.9 million jobs, and, in 2020, raised over $4 billion US in capital. Endeavor’s unique entrepreneur-first model and network of trust provide a platform for founders to dream big, scale up, and pay it forward to the next generation of entrepreneurs.
Endeavor launched its Nigeria office in 2018 to select and support the best founders of companies at the scale-up and growth stage, who recognise a responsibility to pay it forward and multiply their impact in Nigeria’s entrepreneurship ecosystem. In Nigeria, we aim to select 4-6 companies a year and today there are 24 Endeavor Entrepreneurs who are leading 13 companies in the portfolio.
Learn more about Endeavor in Nigeria: https://nigeria.endeavor.org/
Learn about Endeavor’s global network: www.endeavor.org
TeamApt provides financial technology solutions and infrastructure for underserved customers and businesses in emerging and frontier markets. The company creates highly accessible financial products for individuals and businesses that make it easier, faster, and cheaper for these individuals and businesses to perform and process financial transactions.
Launched in 2015, the company’s range of solutions revolve around making it easier for customers and businesses to pay, collect, manage, and grow their money. More than 15 million customers and more than 100,000 businesses depend on TeamApt’s products and – Moniepoint and Monnify – to access their money and deliver delightful customer experiences. For more information, please visit www.teamapt.com
ABOUT THE FOUNDERS
Tosin Eniolorunda is the founder and CEO of TeamApt, a Financial Software company focused on building solutions and running infrastructure for banks, businesses and people to manage their money. Since its inception in 2015, Tosin has transformed TeamApt into an organisation selling to multiple countries and with a seven-figure dollar revenue.
Before starting TeamApt with five other founding members, Tosin served as a product manager and Software Architect at Interswitch for 6 years. He enjoys the thrills of the challenges and risks of starting and nurturing enterprises that affect humanity and finds it fulfilling to lead a team of talented individuals towards achieving a worthy ideal, changing the status quo and making a mark. In addition to being a solution provider, Tosin loves to write.
Felix is a versatile software engineering manager with deep experience building software solutions in the financial sector for high scalability, high availability, resilience and security.
Having graduated with a first-class from the department of Computer Science at the University of Lagos Nigeria, after which he joined Interswitch as a Software Engineer. He has also participated in a number of startups while in school to satiate his hunger for entrepreneurial adventures. Felix is highly proficient in several programming languages and tools, Felix loves solving problems and experimenting with new technologies.
He is deeply experienced in the application of software development methodologies and design patterns – agile, scrum, kanban, test-driven development, continuous integration/deployment. When not supervising junior developers, Felix enjoys taking a walk on the beach and capturing interesting moments with his camera, reading a book or playing the keyboard.