Build Ventures, Axian Group, Mistral, Island Capital Partners, Concrete, and others contribute to the round to fund accelerated growth in payment operations automation.

AXIAN Group has joined forces with the Cathay AfricInvest Innovation Fund and Build Ventures in a $4 million seed extension for fintech disruptor PayTic.

The multi-million-dollar investment aims to fast-track Paytic’s growth and further its mission to automate payment operations for banks, fintechs, and payment processors across Africa.

Hassane Muhieddine, AXIAN CEO of a pan-African group operating across 17 countries in 5 high-growth business sectors, revealed that they have already signed partnerships between PayTic and its subsidiaries BNI Bank and MVola Bank in Madagascar.

"PayTic brings a strong value proposition to banks, fintechs, and card issuers. We are fully convinced that Paytic will develop its offers on the African continent and beyond over the coming years,” said Muhieddine.

Founded in 2020 by Imad Boumahdi, PayTic has swiftly gained traction by replacing manual payment reconciliation and chargeback processes with scalable, automated software. 

With a presence across Morocco, the UK, the Middle East, and North America, the startup is now positioning itself for further expansion, particularly in Africa and the broader Middle East and Africa region.

“This investment represents global recognition of the progress we are making. It also brings more expertise to the table which will help us shape PayTic’s future together,” said Boumahdi.

AfricInvest’s extensive network and three decades of experience will support PayTic’s regional strategy. Rob Barbara of Build Ventures echoed this optimism, calling the investment a continuation of their belief in PayTic’s transformative potential.

“Backing PayTic from the start and continuing our support in the seed extension is a testament to our confidence in the team’s vision, execution, and ability to drive meaningful change in the industry. We believe PayTic is building something truly transformative, and we’re excited to be part of their continued growth,” said Barbara.