Moroccan fintech startup PayTic just scored a major win, closing a $4 million investment round led by AfricInvest, with support from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete. The fresh capital will fuel the company’s expansion across North and Sub-Saharan Africa, helping more financial institutions automate their operations with ease.
Solving Payment Headaches with Smart Automation
Founded in 2020 by Imad Boumahdi, PayTic is on a mission to take the stress out of managing complex payment operations. The company’s SaaS platform offers automation tools designed specifically for card issuers. This directly helps banks, fintechs, and credit unions simplify critical backend tasks like:
- âś… Reconciliation
- âś… Chargeback management
- âś… Programme tracking and reporting
With PayTic, these processes become smoother, faster, and far less prone to error. In addition, this saving teams hours of manual work and reducing costly mistakes. It’s automation made simple.
Built for Scale, Ready to Expand
Already operating in Casablanca (Morocco), Charlottetown (Canada), and London (UK), PayTic is now setting its sights on Africa’s booming fintech market. The $4M investment comes at just the right time.
Africa’s digital payments sector looks to skyrocket to $1.5 trillion by 2030, and the need for smart, scalable infrastructure is more critical than ever. With this funding, PayTic plans to:
- âś… Grow its presence across North and Sub-Saharan Africa
- âś… Expand its product offerings for banks and fintechs
- âś… Invest in talent and tech to meet rising demand
“This investment is not just about capital—it’s about strategic collaboration,” said Imad Boumahdi, CEO of PayTic. “We’re excited to scale faster and bring next-level efficiency to financial institutions across the region.”
Fintech Momentum in Africa
While global funding to startups has cooled off recently, Africa’s fintech sector remains strong. In fact, $1.4 billion flowed into African fintech startups last year alone, with deal volume growing 16% year-over-year and total funding rising by 59%, according to Partech Partners.
PayTic’s latest raise reflects this momentum. In fact, it shows that investors are still bullish on tech that solves real problems in Africa’s financial ecosystem.
What’s Next for PayTic?
With its automation tools already gaining traction, PayTic is now aiming to play a leading role in modernising payment infrastructure across the continent. Moreover, the company’s user-friendly software helps financial players streamline operations so they can focus on what matters most—serving customers and growing their businesses.
Whether you’re a small credit union or a large bank, PayTic aims to be your behind-the-scenes tech partner, helping you keep payment operations efficient, accurate, and scalable.
