Visa’s Commitment to Innovation in Africa
Visa is making significant strides in the African fintech landscape by announcing strategic investments in two promising startups: PayTic from Morocco and Konnect from Tunisia. These investments are part of Visa’s broader initiative to foster innovation and support the growth of fintech companies across the continent. Both PayTic and Konnect were participants in the third cohort of the Visa Africa Fintech Accelerator, a 12-week program designed to provide mentorship, training, and funding opportunities to emerging fintechs.
PayTic: Streamlining Digital Payments
Founded in Morocco, PayTic is at the forefront of developing solutions that enhance back-office operations and improve risk management in digital payments. The company aims to simplify the complexities often associated with financial transactions, making it easier for businesses to manage their operations efficiently. Imad Boumahdi, the CEO of PayTic, expressed enthusiasm about the partnership with Visa, stating, “Thanks to Visa’s support, we are ideally positioned to push the boundaries of fintech and optimize our clients’ operations.” This collaboration not only provides PayTic with the necessary resources but also validates its innovative approach in the fintech sector.
Konnect: Instant Payments Made Easy
On the other hand, Konnect is revolutionizing the way payments are made in Tunisia. This startup enables instant payments through links sent via SMS, email, or messaging apps, making transactions seamless and accessible for users. Founder Amin Ben Abderrahman shared his excitement about Visa’s investment, saying, “We are thrilled with Visa’s continued confidence in our vision.” Konnect’s user-friendly approach to payments is particularly significant in a region where digital transactions are becoming increasingly vital for everyday commerce.
The Visa Africa Fintech Accelerator
The investments in PayTic and Konnect are part of the Visa Africa Fintech Accelerator, which concluded its third cohort during GITEX Africa 2025 in Marrakech. This edition of the accelerator was particularly noteworthy, as it brought together 19 fintechs from 21 countries, showcasing the diversity and potential of the African fintech ecosystem. A remarkable aspect of this cohort was its strong female representation, with 85% of the startups led by women, highlighting the growing role of women in technology and entrepreneurship across the continent.
A Commitment to Growth and Investment
Launched in 2023, the Visa Africa Fintech Accelerator is designed to support startups from the Seed stage through Series A funding. This initiative is part of Visa’s ambitious commitment to invest $1 billion in Africa by 2027. Since its inception, the program has already supported more than 60 fintechs, demonstrating Visa’s dedication to nurturing innovation and entrepreneurship in the region. The next cohort of the accelerator is set to be announced on June 2, 2025, promising more opportunities for emerging fintechs to thrive.
The Future of Fintech in Africa
Visa’s strategic investments in PayTic and Konnect underscore the company’s commitment to fostering innovation in Africa’s fintech landscape. By supporting these startups, Visa is not only enhancing the digital payment ecosystem but also empowering local entrepreneurs to drive economic growth. As the fintech sector continues to evolve, initiatives like the Visa Africa Fintech Accelerator will play a crucial role in shaping the future of financial technology on the continent.