Pan-African fintech company Moment has raised $22 million in Series A funding to enhance its payment infrastructure across Africa, bringing its total funding to $55 million and reflecting growing investor confidence in the continent’s digital payments market.
The round was led by AlphaCode Venture Partners, with continued backing from General Catalyst and MultiChoice, while Canal+ joined as a new investor. Entrée Capital, the Raba Partnership and Helios Investment Partners also support the company.
Headquartered in Cape Town, Moment operates offices in Dubai, Johannesburg, Lagos, Kigali, and London.
Founded by CEO Joel Yarbrough, the company offers payment infrastructure for businesses to accept digital and in-person payments, automate collections and integrate financial services across various African markets, including cards, bank transfers, mobile money, e-wallets and recurring debits.
Its platform is built to help enterprises navigate the continent’s fragmented payments ecosystem, where consumer preferences and payment methods differ sharply from one country to the next.
In South Africa, more than two-thirds of transactions are still completed in person despite widespread access to banking services. Nigeria’s market runs on instant bank transfers alongside cash, cards and digital wallets, while many other African countries lean heavily on mobile money platforms operated by numerous providers with limited interoperability between them.
Announcing the investment, Dominique Collett, General Partner at AlphaCode Venture Partners, described Africa’s payment fragmentation as a structural drag on growth across the continent.
“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,” Collett said.
“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 and his team as they build a defining piece of Africa’s financial infrastructure.”
Moment says its technology was built specifically to solve that fragmentation, giving merchants a single platform that supports locally preferred payment methods while simplifying collections and reconciliation across borders.
Yarbrough said the company’s growth trajectory has been rapid since its platform went live three years ago.
“Within three years of launch, we are processing for 10 million people a month across some of Africa’s leading brands,” Yarbrough said.
“We support the full spectrum of locally preferred digital payment methods as well as an in-person acceptance network spanning over two million physical locations. Our platform is highly resilient, and we process 600,000 transactions a day despite power and connectivity problems that plague the market. We’ve built a platform that can deliver on the particular challenges of the African market and help businesses get paid faster and at lower cost.”
Moment’s customer base spans insurers, subscription businesses and other enterprises reliant on recurring collections. Its platform combines recurring payment capabilities, customer engagement tools and failed-payment recovery services across both digital and physical payment channels.
The company’s roots trace back to MultiChoice brands DStv and Showmax, where it first launched before expanding its services to enterprise customers across the continent.
The latest round also signals growing strategic alignment between Moment and Canal+, which recently completed its acquisition of MultiChoice, creating one of Africa’s largest media and entertainment groups.
Thomas Follin, Chief Diversification Officer at Canal+, said the investment followed a close technical evaluation after that acquisition.
“Following Canal+’s acquisition of MultiChoice, we took a close look at Moment, and we were genuinely impressed. Moment has driven down cost and improved quality simultaneously,” Follin said.
“The business provides world-class technology for enterprise-grade subscription and billing customers that operate in Africa. Together we see a compelling opportunity to expand digital financial access across the continent.”
The new capital will go toward strengthening Moment’s payment network, enhancing its platform, and accelerating expansion across the continent, with the company targeting large enterprises seeking omnichannel payment collection and revenue retention solutions.
The raise lands amid a broader wave of investor interest in African payments infrastructure, as digital commerce accelerates across the continent’s largest economies even as cross-border interoperability remains one of fintech’s most persistent unsolved problems.
With mobile money increasing in East and West Africa and rising demand for unified collection tools, Moment’s Series A highlights investors’ preference for continental payment infrastructure over single-market solutions.
