Fintech Firm Moment Raises $22 Million in Funding
South African fintech startup Moment has secured $22 million in a Series A funding round to build out its payment infrastructure business across Africa. The capital will support platform enhancement and expansion.
Moment, a fintech startup based in South Africa, announced it has raised $22 million in a Series A funding round. The company aims to develop advanced payment infrastructure for merchants across the African continent, offering solutions for payment collection and revenue retention.
The platform provides billers and merchants, including insurers and subscription services, with tools for recurring payments, customer outreach, and failed payment recoveries across various channels. It also allows for direct integration with enterprise billing systems.
The funding round was led by AlphaCode Venture Partners, with participation from existing investors General Catalyst and MultiChoice, as well as new investor Canal+. Moment plans to utilize the funds to deepen its network, enhance its platform, and accelerate its expansion across Africa.
Dominique Collett, general partner at AlphaCode Venture Partners, stated that Africa's payment complexity has historically hindered commerce. Moment's approach aims to dismantle these barriers at a continental scale, offering a compliant solution that has already gained validation from major enterprises.