Moroccan fintech startup PayTic has raised $4 million in funding to strengthen its payment automation solutions and expand into North and Sub-Saharan African markets. The round was led by AfricInvest, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.
Backing Innovation in Payment Automation
PayTic CEO Imad Boumahdi called the investment “a powerful validation” of the company’s mission to transform payment operations. “Beyond the capital, this funding round brings invaluable strategic expertise,” he said, “enabling us to accelerate our global expansion and reshape the future of payment operations.”
Founded in 2020, PayTic offers SaaS (software-as-a-service) solutions for card issuers. These tools automate complex operational tasks like reconciliation and chargeback management, helping banks, credit unions, and fintechs streamline backend processes and improve workflow efficiency.
Scaling Across Africa’s Growing Digital Economy
PayTic already operates in Charlottetown, Canada; Casablanca, Morocco; and London, UK, and its platform supports a wide range of financial service providers. With this new funding, the company aims to scale across Africa, where demand for efficient digital payment solutions is rapidly growing.
Africa’s digital payments economy is projected to reach $1.5 trillion by 2030, offering huge opportunities for fintech innovation. Despite a global funding dip, fintech startups in Africa raised $1.4 billion in 2023, with a 16% increase in deal count and 59% growth in funding, according to Partech Partners.
This funding reflects the broader investor confidence in Africa’s fintech future and positions PayTic’s payment automation solutions as a key driver in that transformation.
