Moroccan fintech startup PayTic has raised $4 million in funding, with AfricInvest leading the round. Other participants include Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.
PayTic plans to use the funding to enhance its payment automation solutions and expand into North and Sub-Saharan Africa.
The company aims to address the growing demand for efficient payment processing in the region while scaling its operations.
By improving automation in financial services, PayTic seeks to support the broader development of digital payments and economic growth.
Founded in 2020, PayTic specializes in software-as-a-service (SaaS) solutions for card issuers. With an existing presence in Canada, Morocco, and the UK, the company focuses on streamlining complex operational processes.
Its platform automates tasks such as reconciliation and chargeback management, helping banks, credit unions, and fintech companies improve efficiency in backend operations.
The investment in PayTic comes at a time when Africa’s digital payments sector is projected to reach $1.5 trillion by 2030.
Investor confidence in fintech remains strong, with startups in the sector securing $1.4 billion in funding. This latest round will support the fintech’s expansion efforts as it works to advance payment automation across the continent.
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