Pan-African payments company Moment has secured fresh capital to accelerate its expansion across a continent where merchants still navigate sharply different payment habits, networks and infrastructure from one market to another.
The Cape Town-headquartered fintech closed a $22 million Series A led by AlphaCode Venture Partners, with General Catalyst and MultiChoice returning as investors and Canal+ participating for the first time. The financing brings Moment’s total funding since its launch to $55 million.
Moment plans to use the capital to strengthen its payments network, enhance its technology platform and accelerate expansion across African markets as it targets large enterprises requiring unified payment collection and billing infrastructure.
Key Overview
- Funding raised: $22 million Series A.
- Lead investor: AlphaCode Venture Partners.
- Existing investors participating: General Catalyst and MultiChoice.
- New investor: Canal+.
- Total funding: $55 million since launch.
- Scale: Moment says it processes around 600,000 transactions daily and payments for 10 million people each month.
- Physical network: More than two million in-person acceptance locations.
- Expansion focus: Broader African coverage, platform development and deeper payment-network integration.
Three Years From Launch to Continental Expansion
Moment was created in 2023 through a venture involving MultiChoice, global payments company Rapyd and General Catalyst. Three years later, the business has developed into an enterprise payments platform serving merchants operating across multiple African markets.
The latest round follows earlier fundraising that included a $22 million Seed+ round in May 2024, which valued Moment at $82 million on a post-money basis, according to published funding details. The new Series A lifts cumulative capital raised to $55 million.
Moment says its infrastructure now processes payments for 10 million people monthly across major African brands and handles approximately 600,000 transactions every day. Its in-person acceptance network spans more than two million physical locations.
That scale is particularly significant given the operational challenges of processing payments across markets affected by inconsistent connectivity, power interruptions and different financial infrastructures.
Tackling Africa’s Fragmented Payment Systems
Africa does not operate as a single payments market. Consumer preferences can differ substantially between neighbouring economies, creating complexity for businesses attempting to build continental operations.
In South Africa, Moment notes that more than two-thirds of payments are still completed in person at retail locations despite relatively high banking penetration. Nigeria has seen rapid adoption of instant bank transfers alongside cards, wallets and cash, while several other African economies are heavily reliant on mobile money.
The challenge for enterprises is that these systems are often fragmented across banks, mobile-money operators, card networks and cash-based collection channels.
Moment is attempting to address that fragmentation through a single multi-channel payments infrastructure supporting cards, mobile money, real-time bank transfers, eWallets, recurring bank debits and in-person payments.
Instead of requiring large companies to build separate integrations for every payment method and market, Moment’s strategy is to provide a common infrastructure layer through which merchants can collect and reconcile payments across channels.
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Enterprise Billing Goes Beyond Processing Payments
Moment’s proposition also extends beyond basic transaction processing.
Its platform provides insurers, subscription companies and other billers with tools for recurring collections, customer outreach and failed-payment recovery, including the ability to reconnect customers through digital and physical payment channels when an initial collection attempt fails.
Businesses can connect the platform directly to enterprise billing systems, while APIs serve companies needing customised integrations. Low- and no-code tools are also available for merchants that want to introduce new payment methods without extensive engineering work.
Moment is additionally working on collection optimisation, reconciliation and back-office clearing capabilities designed to shorten the time between a successful customer payment and the merchant receiving and reconciling those funds.
This focus on payment retention is important for businesses built around subscriptions and instalments, where a failed collection can translate directly into lost revenue or customer churn.
Canal+ Investment Adds a Strategic Dimension
Canal+’s participation gives the financing a strategic element beyond traditional venture funding.
The French media group gained effective control of MultiChoice in September 2025 following its multibillion-dollar takeover of the African pay-TV operator. The transaction subsequently positioned Canal+ as the owner of one of Moment’s existing strategic shareholders. According to the deal announcement, the MultiChoice acquisition became unconditional after the required conditions were fulfilled.
Canal+ Chief Diversification Officer Thomas Follin said the group evaluated Moment following the MultiChoice acquisition and identified opportunities to expand digital financial access across Africa.
For Moment, relationships with large groups such as MultiChoice, Canal+ and Sanlam provide both capital and enterprise-scale environments in which its payment and billing infrastructure can be deployed.
Building Infrastructure for Africa’s Digital Commerce
Moment’s Series A reflects continued investor interest in companies trying to solve one of African commerce’s persistent problems: allowing businesses to collect money reliably across countries where payment behaviour and financial infrastructure differ considerably.
The company is effectively betting that the growth of pan-African enterprises will create stronger demand for a unified layer connecting mobile money, bank transfers, cards, wallets, debit collections and physical payments.
With $55 million now raised, Moment’s next phase will test whether the platform can translate its early enterprise adoption into a genuinely continent-wide payments network while maintaining reliability across Africa’s highly fragmented financial ecosystem.
Sources: Moment / FinTech Futures / Finextra / FinTech Global / Reuters
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