Latest news with #PayTic
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.
Zawya
16-04-2025
- Business
- Zawya
Visa Invests in African fintech Konnect and PayTic on heels of Visa Africa Fintech Accelerator at GITEX Africa 2025
Visa's str ategic investment and commercial partnerships with Visa Africa Fintech Accelerator alumni showcase ongoing commitment to their success. Cairo, Egypt: Visa, a global leader in digital payments, has announced strategic investments and commercial partnerships with two fintechs following their 12-week engagement through the Visa Africa Fintech Accelerator program, which enables start-ups to scale through training, mentorship, and networking opportunities. Visa's investments include Konnect, a fintech based in Tunisia which enables seamless, accessible, and instant payments by provisioning links that can be shared via SMS, email, messenger, or WhatsApp, and PayTic, a fintech based in Morocco which streamlines back-office operations and enhances risk control across digital payments. Leila Serhan, Senior Vice President and Group Country Manager for the North Africa, Levant and Pakistan (NALP) region at Visa commented: "These innovative fintechs are a beacon of creativity and dedication, revolutionizing commerce and finance. Visa is proud to support their journey, providing essential resources, mentorship, and opportunities to drive digital transformation across Africa." 'We at Konnect are thrilled with Visa's continued trust in our vision of driving seamless and instant payments across Africa, empowering businesses and individuals to transact with ease and confidence. As a global leader, Visa reinforces our commitment to shaping the future of payments,' said Amin Ben Abderrahman, CEO of Konnect. Imad Boumahdi, CEO of PayTic, said: 'With Visa's backing, we are uniquely positioned to push the boundaries of possibility in fintech, helping bolster the compliance of digital payments and streamline operations for our clients. We look forward to leveraging Visa's deep expertise, knowledge, and resources to drive growth and impact.' These fintechs join Visa's recent investments across its first-cohort Accelerator alumni, including Oze (Ghana), which provides embedded finance products to SMEs, Workpay (Kenya), which offers a cloud-based payroll platform, OkHi (Nigeria), a smart addressing system that facilitates digital address verification, and ORDA, a cloud-based restaurant software company digitizing over 1,500 restaurants across Nigeria, Kenya, and South Africa. Visa has also announced its strategic partnership with Chari (Morocco) a B2B platform with embedded fintech solutions designed for mom-and-pop shops. The partnership will focus on supporting SME digitization in Morocco and North Africa to drive digital acceptance and issuance. Ismael Belkhayat, CEO and Co-Founder of Chari commented: "Partnering with Visa will significantly enhance our financial services for merchants. By bringing Visa's leading acceptance and payment capabilities to the thousands of merchants across North Africa, we are poised to drive digital transformation and growth in the region." This announcement follows Visa's participation as the Financial Innovation Partner at GITEX Africa 2025, taking place from April 14-16 in Marrakech, Morocco. Concluding the third cohort of the Visa Africa Fintech Accelerator program on the GITEX 10X Stage on April 15, Visa brought together 19 cutting-edge fintech from across the continent to showcase their innovative solutions to an audience of venture capitalists, angel investors, and business partners. Representing the third cohort of the Accelerator program, the start-ups comprised dynamic and next-gen Pan-African innovators operating across 21 African nations. They featured 85% female leadership, marking a substantial increase from less than 50% in the inaugural edition and 65% in the second, progress which Visa is committed to continuing. The Visa Africa Fintech Accelerator is a comprehensive three-month program designed to support Seed to Series A startups by offering one-on-one mentorship, training, and exclusive opportunities for funding and partnership, aligning with Visa's commitment to invest $1 billion in Africa by 2027. Since its launch in 2023, this initiative has accelerated over 60 startups, with the fourth cohort set to be announced on June 2, 2025. Culminating in Demo Day, where participants had the opportunity to unveil their groundbreaking solutions to an audience of influential ecosystem enablers, the program opens the door to future strategic collaborations and growth avenues through valuable exposure and visibility. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere, and see access as foundational to the future of money movement. Learn more at
CairoScene
10-04-2025
- Business
- CairoScene
Moroccan Fintech PayTic Raises $4.4M to Scale Banking SaaS Platform
The Casablanca-based startup offers end-to-end tools for banks and fintechs, aiming to expand across Africa and the Middle East. Apr 09, 2025 Casablanca-based fintech startup PayTic has secured $4.4 million in funding to accelerate the regional rollout of its SaaS platform, which helps banks and fintech companies automate daily operations and comply with regulatory standards. The round will support PayTic's expansion across Africa and the Middle East, where financial institutions are increasingly seeking infrastructure tools to streamline back-office workflows. Founded to address inefficiencies in payment processing and card programme management, PayTic offers an end-to-end platform that integrates directly with the back-end systems of banks, card issuers, and payment processors. The software consolidates operational tasks into a unified dashboard, automating compliance checks, reconciliation processes, and data reporting—functions that are critical yet often remain manual in many financial institutions. Unlike consumer-focused fintechs that cater to end-users, PayTic operates in a less visible but vital segment of the $47 billion global payments industry. PayTic currently works with more than 20 clients across the Middle East, Africa, and Europe. These include major institutions such as CIH Bank, CFG Bank, and Bank of Africa's processing arm OGS in Morocco, as well as BNI Madagascar. The company is preparing to enter new markets, including Nigeria. The company's growth comes amid rising digitalisation efforts across African and Middle Eastern banking sectors, with increased demand for tools that improve efficiency, reduce error margins, and ensure compliance in fast-changing regulatory environments.
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.
