African fintech money point It closed $110 million in new financing and joined Google’s Africa Investment Fund as a new investor. The Series C round was led by Development Partners International’s African Development Partners (ADP) III fund.

Other investors also participated, including African private equity firm Verod Capital and existing investor Lightrock.

Moniepoint, which is also backed by QED Investors, British International Investment (BII) and Endeavor Catalyst, has raised over $180 million since its launch in 2015.

according to Finance TimesThis tour turns Moniepoint into a unicorn; A privately held company valued at $1 billion or more. African fintech was last valued at just over $800 million. QED led tour two years ago.

Moniepoint initially focused on providing infrastructure and payment solutions for banks and financial institutions before becoming a provider of business banking, an area in which it has found notable success.

African fintech caters to small and medium-sized enterprises (SMEs) in Nigeria, offering business management tools such as working capital, business expansion loans and expense management (business payment cards), accounting and bookkeeping solutions, and insurance.

The fintech, which powers the majority of Nigeria’s point-of-sale (POS) transactions as the country’s largest commercial enterprise, claims to process more than 800 million monthly transactions with a total value of more than $17 billion.

Moniepoint says it will use the new funding to accelerate its growth across Africa (90% of its business comes from Nigeria) while developing digital payments, banking, foreign exchange (FX), credit and business management tools. The 9-year-old fintech recently entered the personal banking market and claims to have seen a 20x increase in customers in the past year.