Moment raises $22M Series A to build pan-African payment rails
What's the deal? MomentDealroom has a profile for this one. Try Dealroom →, a pan-African fintech, has closed US$14.2M (around R364 million) Series A round led by AlphaCode Venture Partners. The round included continued investment from General Catalyst and MultiChoiceDealroom has a profile for this one. Try Dealroom →, plus fresh backing from Canal+Dealroom has a profile for this one. Try Dealroom →.
What's the endgame? Cape Town-based Moment builds payment infrastructure for corporate and enterprise merchants, offering collection tools and embedded financial services. The company will use the funding to deepen its network, enhance its platform, and expand across Africa.
Why now? Africa's payment landscape is fragmented, with behaviour varying sharply by market. In South Africa, over two-thirds of payments are still made in person; in Nigeria, instant bank transfers dominate; and mobile money is split across dozens of operators elsewhere.
Moment says it processes for 10 million people a month and handles 600,000 transactions a day, supporting cards, mobile money, real-time bank transfers, eWallets, and an in-person network spanning over two million physical locations. Since inception, it has raised $55 million (more than R900 million).
What they're saying: "Africa's payment complexity has long been a hidden tax on commerce," said Dominique Collett, general partner at AlphaCode Venture Partners. Chief executive officer Joel Yarbrough said the platform helps "businesses get paid faster and at lower cost."
The Canal+ investment follows its acquisition of MultiChoice. "Moment has driven down cost and improved quality simultaneously," said Thomas Follin, chief diversification officer at Canal+, adding the two see "a compelling opportunity to expand digital financial access across the continent."
The signal: Africa's fragmented payments market has proven hard for any single provider to unify. Moment's raise — and the strategic backing from Canal+ and MultiChoice — signals investor appetite for infrastructure that can knit together the continent's many payment channels at scale.
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