In a move that highlights its ongoing commitment to fostering fintech innovation in Africa, Attijariwafa Ventures—the venture arm of Attijariwafa Bank Group and Wafa Assurance—has announced a $1.5 million investment in Tunisian fintech startup Konnect Networks.
The funding round included prominent investors such as:
Utopia Capital Management, 54 Collective, Visa, Plug and Play Tech Center, Renew Capital, Digital Africa Ventures, and Sunny Side Venture Partners.
This investment aims to support Konnect Networks’ expansion in North Africa and further develop its digital payment platform, which is known for its simplicity, security, and scalability for both online and in-store transactions.
Founded in 2021 by Amin Ben Abderrahman, Konnect Networks has quickly become a key player in Tunisia’s fintech scene. It is the first company to receive a Payment Facilitator license from the Central Bank of Tunisia, currently holds 4% of the local digital payment market, and is experiencing monthly growth exceeding 20%.
Attijariwafa Ventures follows a two-pillar strategy:
- Equity investment in minority shares ranging from $200K to $3M.
- Integration of supported startups within Attijariwafa Bank Group’s ecosystem, operating in 27 countries, enabling regional deployment without exclusivity constraints.
The investment in Konnect Networks aligns with Attijariwafa Ventures’ mission to back high-potential fintech companies that promote digital transformation and financial inclusion, particularly in underbanked regions.
In addition, the group has signed a framework agreement with UM6P Ventures—an investment fund affiliated with Mohammed VI Polytechnic University—to finance startups in fintech, insurance, and green tech.
Through this initiative, Attijariwafa Ventures reinforces its role in empowering Africa’s next wave of fintech leaders, positioning the continent as a global hub for financial innovation.
