The funding was led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF), with support from Build Ventures, Axian Group, Mistral, Island Capital Partners, and Concrete.

Founded in 2020 by Imad Boumahdi, the Morocco-based fintech offers tools that help financial institutions automate and scale their daily payment tasks.

 

By replacing manual workflows, Paytic’s platform aims to improve efficiency and reduce errors. The company already works with clients in Morocco, the UK, the Middle East, and North America.

“This round shows that our progress is being noticed worldwide,” said Boumahdi. “The funding also brings in new expertise to guide us as we grow.”

According to Lavanya Anand, senior manager at CAIF, the need for better payment reconciliation systems is a global issue.

 

“We discovered that many companies—even outside Africa—are still using outdated methods like Excel to manage payments. Paytic tackles this with automation, starting with card payment reconciliation and chargeback processes. We’re proud to support a strong founder like Imad and help the company expand further in the Middle East and Africa.”

AfricInvest, a long-standing player in Africa’s financial sector, sees this investment as a way to support digital transformation and boost financial inclusion on the continent.

AXIAN Financial Services has also backed Paytic and is taking steps to integrate its services with the group’s banking subsidiaries in Madagascar—BNI Bank and MVola Bank.

 

CEO Hassane Muhieddine expressed optimism about Paytic’s potential to grow across Africa and beyond.

Build Ventures partner Rob Barbara echoed that sentiment, saying:

 

“We’ve supported Paytic from the beginning. Their vision and execution show real potential to reshape how the financial industry handles payment processes.”