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Co-Founders of TeamApt, Tosin Eniolorunda and Felix Ike have been 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, who 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.
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.
“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,” said Tosin Faniro-Dada, Managing Director & CEO, Endeavor Nigeria.
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.”
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).