Following its third accelerator program, Visa invests in Morocco’s PayTic and Tunisia’s Konnect
After Tunisia’s Konnect and Morocco’s PayTic participated in Visa’s 12-week Africa Fintech Accelerator program, the company announced strategic investments and business partnerships. Visa is a global leader in digital payments.
The Africa Fintech Accelerator was established in 2023 in accordance with Visa’s commitment to invest $1 billion USD in financial inclusion in Africa by 2027. To date, 64 startups have been accelerated across three cohorts, the most recent of which began late last year.
Visa recently provided strategic funding to four startups that participated in the first program in 2023. The company has since made additional investments in PayTic, a fintech based in Morocco that improves risk control across digital payments and streamlines back-office operations, and Konnect, a Tunisian fintech that facilitates easy, accessible, and instant payments by providing links that can be shared via SMS, email, messenger, or WhatsApp.
“These innovative fintechs are a beacon of creativity and dedication, revolutionising commerce and finance. Visa is proud to support their journey, providing essential resources, mentorship, and opportunities to drive digital transformation across Africa,” said Leila Serhan, senior vice president and group country manager for the North Africa, Levant, and Pakistan (NALP) region at Visa.
