PayTic, a Moroccan fintech company focused on modernizing payment operations for banks, fintechs, and processors worldwide, has successfully closed a $4 million extension to its Series Seed funding round.
The $4 million investment was led by prominent investors including AfricInvest, Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete. This investment underscores PayTic’s growing strategic importance in the global financial innovation landscape.
Founded in 2020 by CEO Imad Boumahdi, PayTic has rapidly gained traction in Africa by offering advanced technological solutions that automate traditionally manual and complex banking processes. These tools enable financial institutions to achieve greater operational efficiency and scalability.
Boumahdi stated that the investment “validates PayTic’s mission and the transformative impact” of its solutions. Lavanya Anand of the Cathay AfricInvest Innovation Fund (CAIF) echoed this sentiment, highlighting PayTic’s focus on addressing the global issue of payment reconciliation, which remains largely manual in many organizations.
Hassan Muhieddine, CEO of AXIAN Financial Services, praised PayTic’s added value, particularly through its partnerships with BNI Bank and MVola Bank in Madagascar.
Nawfal Fassi Fihri, Managing Director of CDG Invest’s 212 Founders program, recognized PayTic’s strong potential, citing its “strong team and a clear vision” as key factors for growth beyond the African continent.
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