Latest news with #ImadBoumahdi
Ya Biladi
16-04-2025
- Business
- Ya Biladi
Visa deepens African footprint with investment in Morocco's PayTic
Visa is strengthening its commitment to innovation in Africa by announcing strategic investments in Moroccan fintech company PayTic and Tunisian startup Konnect. Both companies were part of the third cohort of the Visa Africa Fintech Accelerator, a 12-week program designed to support the growth of African fintechs through mentorship, training, and funding opportunities. Founded in Morocco, PayTic develops solutions that streamline back-office operations and improve risk management in digital payments. «Thanks to Visa's support, we are ideally positioned to push the boundaries of fintech and optimize our clients' operations», said CEO Imad Boumahdi. Visa also invested in Konnect, a Tunisian startup that enables instant payments through links sent via SMS, email, or messaging apps. «We are thrilled with Visa's continued confidence in our vision», said founder Amin Ben Abderrahman. These investments are part of a broader initiative: during GITEX Africa 2025 in Marrakech, Visa concluded the third cohort of its accelerator program, which brought together 19 fintechs from 21 countries. This edition was particularly notable for its strong female representation, with 85% of the startups led by women. Launched in 2023, the Visa Africa Fintech Accelerator supports startups from the Seed stage through Series A and is part of Visa's commitment to invest $1 billion in Africa by 2027. Since its launch, the program has supported more than 60 fintechs. The next cohort will be announced on June 2, 2025.
Wamda
09-04-2025
- Business
- Wamda
PayTic secures $4 million investment from AfricInvest
Morocco-based fintech PayTic has raised $4 million in funding, led by AfricInvest alongside Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete. Founded in 2020 by Imad Boumahdi, PayTic specialises in automating complex operational processes for card issuers, including reconciliation and chargeback management. The investment aims to support PayTic's expansion into North and Sub-Saharan African markets. Source: Tech Point Moroccan fintech startup PayTic has raised $4 million in funding to advance its payment automation solutions and facilitate expansion into North and Sub-Saharan African markets. AfricInvest led the funding round alongside Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete. 'This significant investment is a powerful validation of PayTic's mission and the transformative impact we are delivering,' Imad Boumahdi, CEO of PayTic, said. 'Beyond the capital, this funding round brings invaluable strategic expertise, enabling us to accelerate our global expansion and reshape the future of payment operations.' Specialising in automating complex operational processes for card issuers, PayTic offers software-as-a-service (SaaS) solutions that streamline tasks such as reconciliation and chargeback management. Founded in 2020, PayTic has established a presence in multiple locations, including Charlottetown, Canada; Casablanca, Morocco; and London, UK. The company's platform serves banks, credit unions, fintech companies, and other payment actors, aiming to optimise workflow efficiency and scale backend programme management. The recent funding is expected to bolster PayTic's efforts to address the increasing demand for efficient payment processing solutions in Africa. The continent's digital payments economy is projected to reach $1.5 trillion by 2030, highlighting significant growth opportunities for fintech companies. This investment in PayTic reflects a broader trend of growing investor confidence in Africa's fintech sector. Despite a drop in funding, fintech startups in Africa still secured $1.4 billion from investors. According to Partech Partners, fintech investment in Africa grew 16% year-on-year in deal count and 59% year-on-year in funding. As PayTic prepares to scale its operations across the continent, the company is poised to contribute significantly to the evolution of payment automation in Africa, enhancing financial services and supporting economic growth in the region.
