Summary:

• Moniepoint has appointed Pawal Swiatek, former Managing Vice President at Capital One, as its Chief Operating Officer.
• Since rebranding in January 2023, Moniepoint plans to launch new products and Swiatek will be in charge of driving strategy and execution.
• Moniepoint already services 600,000 businesses and processed $100 billion in 2022, and Swiatek will be building policies, tools, measurements, and culture to guide the company towards its goals.

Moniepoint, a Nigerian payment solutions startup, has announced that Pawal Swiatek, a former Managing Vice President at Capital One, is now its Chief Operating Officer (COO).

Since rebranding in January 2023 and changing its name from TeamApt to its most popular product, Moniepoint, the Nigerian fintech has revealed that it plans to launch new products like bookkeeping, accounting, international payment collections, and more.

Swiatek had worked at Capital One for four years spearheading financial inclusion for the unbanked population of the US, giving them access to credit. He will try to replicate his activities at the Nigerian startup and will be in charge of driving strategy and execution by building policies, the company said in a blog release.

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Moniepoint CEO Tosin Eniolorunda said that he would be working closely with Swiatek, as will the other senior management team.

The company already services 600,000 businesses and the Polish-born COO will be building tools, measurements, and culture to guide it towards its goals.

Pawal Swiatek had been on the management team of Bridgewater, the world’s largest hedge fund, overseeing the employees growth from 150 to 2,000. He has also worked with McKinsey, a global management consulting company.

It is a good time for Moniepoint to be strengthening its ranks because it has become one of the fintechs Nigerians are turning to during the cash crises caused by the poorly managed old Naira notes swap. Several small shop owners now use Moniepoint POS machines because of their reliability and ease-of-use.

The company says that it processes about 25,000 transactions on the average every minute and processed $100 billion in 2022.

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