PayTic, a Moroccan fintech startup specializing in payment automation, has secured $4 million in funding to enhance its payment automation solutions and facilitate expansion into North and Sub-Saharan African markets. The funding round was led by AfricInvest, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete.
Founded in 2020, PayTic focuses on automating complex operational processes for card issuers by offering software-as-a-service (SaaS) solutions that streamline tasks such as reconciliation and chargeback management.
The company’s platform currently serves banks, credit unions, fintech companies, and other key players in the payment sector, optimizing workflow efficiency and backend program management.
PayTic’s recent funding is expected to bolster its efforts to address the increasing demand for efficient payment processing solutions in Africa—a continent whose digital payments economy is projected to reach $1.5 trillion by 2030.
This significant investment reflects growing investor confidence in Africa’s fintech sector, with startups in the region attracting $1.4 billion in funding, even amid overall declines.
In addition to expanding its service reach in Africa, PayTic is leveraging its global presence with offices in Charlottetown (Canada), Casablanca (Morocco), and London (UK) to drive innovation and operational excellence.
Imad Boumahdi, CEO of PayTic, commented, “This investment is a powerful validation of our mission and the transformative impact we are delivering. Beyond the capital, it brings strategic expertise that will enable us to accelerate our global expansion and reshape the future of payment operations.”
