Moment, a pan-African fintech, today announced the close of its $22 million (around R364 million) Series A funding round, led by AlphaCode Venture Partners, with continued investment from General Catalyst, MultiChoice, and fresh investment from Canal+.
Since inception, Moment has raised $55 million (more than R900 million) to develop one of the continent’s most advanced payment infrastructure businesses, offering a comprehensive suite of payment collection and revenue retention solutions to corporate and enterprise merchants. The company will use the additional funding from this Series A round to deepen its network, enhance its platform and accelerate expansion across Africa.
Dominique Collett, General Partner at AlphaCode Venture Partners, explains, “Africa’s payment complexity has long been a hidden tax on commerce – on every business trying to grow here, and on every household trying to participate in the digital economy. Moment is dismantling that barrier in a way we haven’t seen before, at continental scale, compliantly, and with a product that the market’s largest enterprises have already validated. We’re backing Joel Yarbrough, Moment’s CEO, and his team as they build a defining piece of Africa’s financial infrastructure.”
