Moroccan fintech startup PayTic has raised $4 million in funding to enhance its payment automation solutions and support its expansion into North and Sub-Saharan African markets. AfricInvest led the funding round, alongside Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.
PayTic specializes in automating complex operational processes for card issuers, providing SaaS solutions for tasks like reconciliation and chargeback management. Since its founding in 2020, PayTic has expanded its presence in Morocco, Canada, and the UK. The company serves a range of financial institutions, including banks, credit unions, and fintech companies, aiming to streamline payment workflows and optimize backend operations.
This latest funding will help PayTic address the growing demand for efficient payment solutions in Africa, where the digital payments economy is projected to reach $1.5 trillion by 2030. The investment also highlights growing confidence in Africa’s fintech sector, which continues to show strong growth despite broader challenges in funding. PayTic’s expansion is expected to significantly contribute to payment automation and financial services development in the region.
