PayTic, a Moroccan financial technology company focused on streamlining payment operations for financial institutions globally, has announced the successful completion of a $4 million seed extension funding round. The investment, led by AfricInvest alongside Build Ventures, Axian Group, Mistral, Island Capital Partner, and Concrete, signals strong investor confidence in the company’s innovative approach to a critical area of the financial services sector.
Founded in 2020 by entrepreneur Imad Boumahdi, PayTic has rapidly established itself as a key player in automating and modernising the complex daily operations of banks, fintech firms, and payment processors. The company’s core offering addresses the inefficiencies inherent in manual processes and legacy systems, providing solutions that enhance scalability and operational efficiency.
“This significant investment is powerful validation of PayTic’s mission and the transformative impact we are delivering,” stated Mr. Boumahdi, Chief Executive of PayTic. “Beyond the capital, this funding round brings invaluable strategic expertise, enabling us to accelerate our global expansion and reshape the future of payment operations.”
A key focus of PayTic’s technology is payment reconciliation, a process often reliant on manual methods within financial institutions. Lavanya Anand, Senior Manager at Cathay AfricInvest Innovation Fund (CAIF), commented on this challenge: “Payment reconciliation is a global issue, with back-office teams still heavily dependent on inefficient manual processes. PayTic tackles this problem with an innovative automation solution. CAIF is proud to support Imad and drive PayTic’s expansion into new markets across the Middle East and Africa (MEA) region.”
AfricInvest, with over three decades of experience in African financial services, is positioned to provide strategic support for PayTic’s regional growth. CAIF’s investment aligns with its goal of fostering financial inclusion in Africa by backing start-ups that optimise digital financial services.
Hassane Muhieddine, CEO of AXIAN Financial Services, also highlighted the value proposition of PayTic: “PayTic brings strong added value to financial institutions by significantly reducing manual reconciliation and fraud management processes. In addition to our investment, we have established partnerships with PayTic through our subsidiaries BNI Bank and MVola Bank in Madagascar, and we are confident in its future development in Africa and beyond.”
Rob Barbara, Partner at Build Ventures, echoed this sentiment, stating: “Our continued support for PayTic reflects our confidence in its transformative vision and execution capability. We are excited to be part of this ongoing growth.”
Nawfal Fassi Fihri, Managing Director of CDG Invest’s 212 Founders programme, added: “With a strong team and a clear vision, PayTic is ideally positioned to capture significant growth and create transformative impact beyond borders.”
PayTic operates in a multi-billion dollar market, differentiating itself by targeting leaders within the payments industry who are seeking to implement robust and efficient solutions from the outset. The company has already garnered recognition from industry players such as ALLPAY, AFS, CFG Bank, CIH Bank, OGS (Operation Global Services), and WFC (Windsor Family Credit Union).
Looking ahead, PayTic is set to launch its “No-Code Reconciliation” module, an innovation that promises to significantly reduce the time and complexity associated with payment reconciliation, offering enhanced agility in a rapidly evolving market.
The company will also be participating in Gitex Africa 2025 in Marrakech from April 14th to 16th, where its experts will showcase their solutions aimed at modernising back-office payment operations. This participation underscores PayTic’s ambition to play a central role in shaping the future of payment processing across the continent and globally.