Moment, a pan-African FinTech, secured $22 million in Series A funding, bringing its total capital raised to $55 million. The funding round was led by AlphaCode Venture Partners, with participation from existing investors General Catalyst and MultiChoice, and new investor Canal+.
The proceeds from the new round will be used to strengthen Moment’s network, upgrade its platform capabilities, and support further expansion into new African markets. Since its launch, Moment has utilized capital to develop a payment infrastructure platform designed for corporate and enterprise merchants operating across Africa, offering payment collection and revenue retention tools.
The capital infusion occurs within a diverse African payments landscape. In South Africa, in-person retail payments constitute over two-thirds of transactions despite high bank penetration. Nigeria’s market relies significantly on instant bank transfers, alongside cash, card, and digital wallet usage. Elsewhere, mobile money dominates in markets with lower bank penetration, yet the sector remains fragmented across multiple operators, presenting challenges for merchants seeking unified payment collection across all channels.
Moment positions its platform as a solution to this fragmentation. The company processes payments for 10 million individuals monthly, serving prominent African brands. It supports a full spectrum of digital payment preferences and operates an in-person collection network across more than two million physical sites. Moment handles 600,000 transactions daily, with its infrastructure designed to maintain this volume despite common power outages and connectivity gaps in the region.
Headquartered in Cape Town, Moment provides omni-channel payment solutions, intelligent collection technology, and embedded financial services to large businesses across the continent. Its investor base includes General Catalyst, Canal+, MultiChoice, AlphaCode Venture Partners, Entree Capital, the Raba Partnership, and Helios Investment Partners.
Moment’s product suite offers billers and merchants, including insurers and subscription businesses, tools for recurring billing, customer outreach, and recovery of failed payments across both digital and physical channels. Merchants have the option to integrate directly into their existing enterprise billing systems and can accept various payment methods, such as cards, mobile money, real-time bank transfers, eWallets, recurring bank debits, and cash-based in-person payments.
In addition to its API infrastructure, Moment provides low- and no-code tools, enabling merchants to commence payment collection rapidly without substantial technical investment.
Dominique Collett, General Partner at AlphaCode Venture Partners, stated, “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 – Moment’s CEO – and his team as they build a defining piece of Africa’s financial infrastructure.”
