Moment Raises $22M to Accelerate Pan-African Payments

Moment, a pan-African payments fintech, has raised $22 million in a Series A funding round, led by AlphaCode Venture Partners. The company focuses on building digital payment infrastructure across the continent, helping merchants and consumers transact more seamlessly.

The round also saw continued participation from existing investors General Catalyst and MultiChoice, with Canal+ joining as a new backer. The mix of repeat and fresh investors highlights growing confidence in Moment's approach to leapfrogging traditional banking relies.

Proceeds from the funding are expected to support the expansion of Moment's platform, which aims to streamline cross-border payments and drive financial inclusion in underserved markets. The company's technology is designed to connect disparate payment systems, making it easier for businesses to operate across African borders.

Investor enthusiasm for African fintech remains strong, with Moment's latest raise underscoring the sector's potential. As the company scales, it will look to deepen its presence in key markets and build on its existing partnerships, according to the firm. The announcement comes amid broader momentum for digital payments on the continent.