Moroccan Fintech PayTic Closes $4M Seed Extension Round
Multiple reports have confirmed that the Moroccan fintech firm PayTic has secured $4 million in a seed extension round to accelerate its mission of modernizing payment operations for financial institutions worldwide.
The funding can support the company’s continued growth and innovation in providing Software-as-a-Service (SaaS) solutions tailored to card issuers. PayTic specializes in automating complex operational tasks, enhancing workflow efficiency, and enabling the seamless scaling of backend program management.
Read more: https://techafricanews.com/2025/04/09/moroccan-fintech-paytic-closes-4m-seed-extension-round/
How shared digital infrastructure can bridge the gap in Africa
In Uganda’s Buheesi village, a school that once lacked electricity or internet now downloads digital textbooks and files reports in real time. The transformation came when a pilot programme combined rural electrification with fibre deployment, bringing both power and connectivity to the heart of the community.
Across much of the world, digital infrastructure isn’t just about streaming videos or accessing cloud storage. It’s about agency, access and advancement. Africa is home to 18% of the world’s population but holds less than 1% of global data centre capacity. That’s not just a stat – it’s a warning.
Happy Pay and Peach Payments Partner to Expand Zero-Deposit BNPL in South Africa
South African fintech Happy Pay has teamed up with leading payment gateway Peach Payments to roll out its innovative Buy-Now-Pay-Later (BNPL) solution more broadly across the country.
The partnership enables consumers to split their purchases into two interest-free payments, offering a more flexible and budget-friendly shopping experience. With zero upfront deposit required, Happy Pay’s solution is the only one of its kind in South Africa, helping merchants increase conversion rates and average order values.
Kenya’s Umba raises $5m debt financing to expand digital banking operations
Kenya’s Umba, a leading pan-African digital bank, has secured a US$5 million debt facility from Star Strong Capital to expand its operations across the continent.
Umba is a digital bank built for Africa, aiming to open up banking services for Africa’s vast, underserved market. The startup aims to make it easier for consumers and SMEs to interact with banks and mobile money networks, providing a transparent, low-fee service that allows users to take control of their financial lives.
Users get a no-fee current account, low-cost payments, billpay and loans. Umba also uses the proprietary data generated by customers to offer credit products and generate revenue where customers can receive and repay credit products through their mobile phones.
Africa dominates global mobile payments with US$190 billion contribution to GDP – Report
The State of the Industry Report on Mobile Money 2025 by GSMA confirms that Africa is an undisputed leader in digital payments, with the continent’s digital payments trends surpassing those of other regions in 2024.
While Africa’s performance last year stood out, insiders view it as just the beginning, with many pointing to significant underlying opportunities for further growth on the continent.
According to Reenu Verma, a fintech expert at Vodacom M-Pesa, “I’m not surprised at all. In fact, I thought we would have grown even more rapidly.”
Revolut fined €3.5 million by Lithuanian central bank for AML failings
The Bank of Lithuania, which oversees Revolut’s European banking operations alongside the European Central Bank, said the sanction followed the discovery of failings in how the company monitored business relationships and customer transactions.
The watchdog said failings had “resulted in the bank not always properly identifying suspicious monetary operations or transactions carried out by customers”.
The Bank of Lithuania’s investigation did not identify any confirmed instances of money laundering and findings are related to improvements of existing controls.
