PayTic Raises $4M for Expansion, Offers Comprehensive Fintech Solution
Moroccan fintech startup PayTic has raised $4 million in a seed extension funding round. The round was led by AfricInvest via the Cathay AfricInvest Innovation Fund (CAIF), with participation from other investors. PayTic operates in Charlottetown, Canada; Casablanca, Morocco; and London, UK.
PayTic generates revenue through a hybrid model, combining subscription fees, optional volume-based pricing, and revenue-sharing arrangements. It serves over 20 businesses across Europe, the Middle East, and Africa, including CIH Bank, CFG Bank, and OGS in Morocco, and BNI Madagascar. The company's platform connects with core systems of banks, card issuers, and payment processors, consolidating operational processes into unified dashboards.
PayTic's primary competitor is UK-based Kani Payments. However, PayTic offers a more comprehensive solution, supporting the full spectrum of a bank's daily operational workflows. The startup is now eyeing expansion into new markets, starting with Nigeria, due to its active fintech ecosystem seeking scalable operational solutions.
PayTic's seed extension funding round, led by AfricInvest, brings the total investment to $4 million. The company plans to use these funds to expand into new markets, starting with Nigeria. PayTic's unique platform and comprehensive solution have attracted investors and clients alike, positioning the startup for growth in the competitive fintech landscape.
