Morocco’s PayTic Secures $4M to Expand Payment Automation Across Africa

Moroccan fintech startup PayTic has raised $4 million in a seed extension round to scale its payment automation solutions and expand into North and Sub-Saharan Africa. The funding round was led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF), with participation from Build Ventures, Axian Group, Mistral, Island Capital Partners, and Concrete .​

Founded in 2020 by CEO Imad Boumahdi, PayTic offers software-as-a-service (SaaS) tools that automate complex operational processes for banks, fintech firms, and payment processors. The company's platform simplifies tasks such as reconciliation and chargeback management, enhancing workflow efficiency and scalability .​

The new funding will support the launch of PayTic's "No-Code Reconciliation" module, designed to reduce the time and complexity associated with payment reconciliation . Additionally, the investment will facilitate PayTic's expansion into African markets, where the digital payments economy is projected to reach $1.5 trillion by 2030 .

PayTic currently serves over 20 businesses across Europe, the Middle East, and Africa, including clients such as Morocco’s CIH Bank, CFG Bank, and BNI Madagascar . The company operates from offices in Casablanca, London, and Charlottetown, Canada .​

This investment reflects growing investor confidence in Africa’s fintech sector. According to Partech Partners, African fintech companies raised $1.4 billion in 2024, marking a 59% year-on-year increase in funding .​

With this funding, PayTic aims to enhance financial services and support economic growth across the African continent.​

SOURCE: AGENCIES