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    HomeEcosystem NewsLatest FundingCDG Invest’s 212 Founders Program Invests in PayTic

    CDG Invest’s 212 Founders Program Invests in PayTic

    Ecosystem NewsLatest FundingNORTHERN AFRICA

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    By Staff Writer
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    In a significant move towards fostering financial innovation, the 212Founders program, through CDG Invest, has announced its commitment to investing in Morocco’s PayTic. This funding injection is poised to empower PayTic, a startup aiming to revolutionize the back-office processes of payment card issuers, catalyzing their growth, according to an official statement.

    Nawfal Fassi Fihri, the director of the 212Founders program, commended Imad Boumahdi, the visionary mind and Fintech expert behind PayTic, for his dedication to innovation in modernizing the back-office operations of payment card issuers. This strategic investment by 212Founders aligns with the program’s mission to support startups in their growth journey.

    Imad Boumahdi, the founder of PayTic, expressed optimism about the partnership with CDG Invest, emphasizing that this funding round would fortify PayTic’s position in the Moroccan market. He further stated that the raised capital would facilitate the expansion of PayTic into the international market, marking a pivotal milestone in the company’s global ambitions.

    It is worth noting that 212Founders, initiated by CDG Invest in September 2019, serves as an investment and support program for startups. The program aims to contribute to the creation and growth of Moroccan startups with international aspirations. Since its inception, 212Founders has successfully secured 19 Seed and Series A financings, totaling an impressive 110 million dirhams (MDH) in investments.

    This latest investment in PayTic not only underscores CDG Invest’s commitment to fostering innovation but also highlights the potential for Moroccan startups to make a global impact. As PayTic gears up to transform the landscape of payment card issuers’ back-office processes, the collaboration with 212Founders is expected to serve as a catalyst for the startup’s local and international success. The infusion of funds is set to propel PayTic’s growth, enabling it to navigate the competitive financial technology landscape with greater ease and efficiency.

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