Visa has announced strategic investments in two North African fintech companies — Tunisia's Konnect and Morocco's PayTic — following their participation in the card network's Africa Fintech Accelerator programme.
The investments form part of Visa's previously stated one-billion-dollar commitment to financial inclusion across Africa by 2027, a target that encompasses equity stakes, strategic partnerships, product development, and ecosystem support. The Africa Fintech Accelerator programme has now run three cohorts and supported 64 African fintechs in total, providing each cohort with mentorship, technical assistance, and access to Visa's global network of merchant and banking relationships.
TWO STARTUPS, COMPLEMENTARY ROLES IN THE PAYMENTS STACK
Konnect operates a payment gateway that enables e-commerce merchants and digital service providers in Tunisia to accept online and digital transactions.
PayTic approaches the opportunity from a different angle, offering digital tools that help payment service providers automate their operations rather than serving end consumers directly. The Moroccan company's platform automates compliance, risk monitoring and operational workflows.
EARLIER ACCELERATOR INVESTMENTS
The Konnect and PayTic investments follow earlier Visa funding for four startups from the first cohort.
Bank news that matters, every weekday.
Follow The Global Banker on LinkedIn