PayTic raises USD 4 million to expand across African markets

The company provides software-as-a-service (SaaS) tools designed to automate back-office operations for card issuers, including reconciliation processes and chargeback handling. 

The investment round was led by AfricInvest, with participation from Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete. According to PayTic officials, the funding will be used not only to scale the business in new African markets but also to strengthen the company’s technical capabilities in response to increasing demand for efficient payment systems. 

Founded in 2020, PayTic operates out of several international locations including Casablanca, Charlottetown, and London. Its clients include banks, credit unions, and fintech firms that use its platform to manage workflows and support programme scalability.

Fintech investment remains active in Africa 

Despite a general slowdown in venture capital activity, African fintech companies raised USD 1.4 billion last year. Data from Partech Partners indicates a 16% increase in the number of deals and a 59% rise in total investment value compared to the previous year, underscoring sustained investor interest in the sector. 

PayTic's latest funding comes as Africa’s digital payments sector continues to grow. Analysts project that the continent’s digital payments economy could reach USD 1.5 trillion by 2030, presenting long-term growth potential for technology providers addressing infrastructure and efficiency gaps in the region. 

A representative from PayTic noted that the capital injection will be accompanied by strategic input from the company’s investors, which is expected to support the next phase of its regional rollout.