Moment, the pan-African payments company spun out of MultiChoice’s fintech operations, has secured US$22 million (approximately R364 million) in Series A funding to accelerate its expansion across Africa and strengthen its digital payments platform.
The investment round was led by AlphaCode Venture Partners and included follow-on funding from existing investors General Catalyst and MultiChoice, alongside new investment from Canal+, the French media company that recently completed its acquisition of MultiChoice.
The Cape Town-headquartered fintech said the new capital will be used to expand its payments infrastructure, enhance its technology platform and grow its presence in additional African markets. The latest funding brings Moment’s total capital raised since its launch to US$55 million.
Moment was established in 2023 as a joint venture between MultiChoice, global payments company Rapyd, and venture capital firm General Catalyst. The business was created to leverage MultiChoice’s extensive payment ecosystem and develop a scalable digital payments network serving businesses across Africa.
Since launching operations, the company has experienced significant growth. Moment now processes payment services for approximately 10 million users every month across leading African brands while supporting an acceptance network of more than two million physical payment locations.
According to the company, its platform processes around 600,000 transactions daily, maintaining high reliability despite infrastructure challenges such as power outages and connectivity disruptions that affect many African markets.
The latest investment reflects growing investor confidence in Africa’s rapidly expanding fintech sector, where demand for secure, efficient and scalable digital payment solutions continues to increase as businesses accelerate digital transformation initiatives.
