The round was led by AlphaCode Venture Partners, with continued backing from General Catalyst and MultiChoice, while Canal+ joined as a new investor.

The company is also supported by Entrée Capital, the Raba Partnership, and Helios Investment Partners.

Headquartered in Cape Town, Moment operates offices in Dubai, Johannesburg, Lagos, Kigali, and London.

The company provides payment infrastructure that enables businesses to accept digital and in-person payments, automate collections, and integrate embedded financial services across multiple African markets.

Its platform is designed to help enterprises navigate the continent’s fragmented payments ecosystem, where consumer preferences and payment methods differ significantly from one country to another.

Announcing the investment, Dominique Collett, General Partner at AlphaCode Venture Partners, said Africa’s complex payment environment continues to slow business growth and digital commerce.

“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 and his team as they build a defining piece of Africa’s financial infrastructure.”

Africa’s payments market remains highly fragmented. In South Africa, more than two-thirds of transactions are still completed in person despite widespread access to banking services.

Nigeria’s market is dominated by instant bank transfers alongside cash, cards, and digital wallets, while many other African countries rely heavily on mobile money platforms that operate across numerous providers with limited interoperability.

Moment says its technology was built to address these challenges by giving merchants a single platform that supports locally preferred payment methods while simplifying collections and reconciliation across borders.

Chief Executive Officer Joel Yarbrough said the company has grown rapidly since launching its platform.

“Within three years of launch, we are processing for 10 million people a month across some of Africa’s leading brands. We support the full spectrum of locally preferred digital payment methods as well as an in-person acceptance network spanning over two million physical locations. Our platform is highly resilient, and we process 600,000 transactions a day despite power and connectivity problems that plague the market. We’ve built a platform that can deliver on the particular challenges of the African market and help businesses get paid faster and at lower cost.”

Moment’s customer base includes insurers, subscription businesses, and other enterprises that depend on recurring collections.

Its platform combines recurring payment capabilities, customer engagement tools, and failed-payment recovery services across both digital and physical payment channels.

The company previously launched with MultiChoice brands including DStv and Showmax before expanding its services to other enterprise customers across the continent.

The latest investment also reflects growing strategic alignment between Moment and Canal+, which recently completed its acquisition of MultiChoice, creating one of Africa’s largest media and entertainment groups.

Thomas Follin, Chief Diversification Officer at Canal+, said the company’s investment followed a close evaluation of Moment’s technology after the MultiChoice acquisition.

“Following Canal+’s acquisition of MultiChoice, we took a close look at Moment, and we were genuinely impressed. Moment has driven down cost and improved quality simultaneously.”

“The business provides world-class technology for enterprise-grade subscription and billing customers that operate in Africa. Together we see a compelling opportunity to expand digital financial access across the continent.”