Moroccan fintech startup PayTic has raised $4 million in fresh funding to enhance its payment automation technology and fuel its expansion into North and Sub-Saharan Africa. The funding round was led by AfricInvest, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.
PayTic, which was founded in 2020, provides software-as-a-service (SaaS) solutions that automate operational processes for card issuers, including complex tasks like reconciliation and chargeback management. The platform is designed to improve efficiency, reduce errors, and streamline backend operations for banks, credit unions, fintechs, and other payment service providers.
“This significant investment is a powerful validation of PayTic’s mission and the transformative impact we are delivering,” said Imad Boumahdi, CEO of PayTic. He added that beyond the capital, the new investors bring valuable strategic support that will accelerate the company’s global growth and help shape the future of payment operations.
With operational hubs in Charlottetown (Canada), Casablanca (Morocco), and London (UK), PayTic is positioning itself as a key player in the rapidly growing digital payments landscape across Africa. The funding is expected to support the company’s response to increasing demand for efficient, scalable fintech solutions on the continent.
Africa’s digital payments market is on track to hit $1.5 trillion by 2030, underscoring the growing opportunity for fintech innovation. Despite an overall funding slowdown, fintech startups across Africa secured $1.4 billion in investments last year. According to Partech Partners, the sector recorded a 16 percent rise in the number of deals and a 59 percent increase in total funding, highlighting investor confidence in fintech’s role in Africa’s economic transformation.
As PayTic scales its operations, it aims to play a major role in modernising payment infrastructures across Africa, helping financial institutions and businesses adapt to a digital-first economy while contributing to the continent’s financial inclusion and economic growth goals.
