Morocco-based fintech startup PayTic has raised $4.4 million to grow its operations across Africa and the Middle East. The company plans to use the money to expand partnerships and offer its services to more banks and fintechs around the world.
AfricInvest led the funding round, with support from Axian Venture Lab and Mistral VC. Existing investors like CDG Invest, Build Ventures, Concrete VC, and ICP Ventures also joined. This brings PayTic’s total funding to $7.4 million.
Unlike many fintech companies that focus on end users, PayTic works behind the scenes. It helps banks, card issuers, and payment companies handle everyday tasks like fraud detection, refunds, data matching, and following rules set by financial authorities.
PayTic’s founder, Imad Boumahdi, said, “We’ve built a no-code platform that helps banks and fintechs run daily operations without manual work.”
The startup connects directly to the back-end systems of financial companies. Its software then organizes all daily activities into simple dashboards. This setup lets financial institutions automate tasks and avoid errors—saving time and reducing costs.
PayTic makes money through subscriptions and volume-based pricing. The company also has revenue-sharing deals with some clients.
So far, PayTic serves over 20 businesses in Europe, Africa, and the Middle East. Clients include CIH Bank, CFG Bank, and OGS (Bank of Africa’s processing partner) in Morocco, as well as BNI Madagascar and various African fintechs.
PayTic competes with UK-based Kani Payments. But Boumahdi says PayTic offers a more complete solution. “Kani handles only one part. We built a full system that works without any code or complicated setups,” he said.
The startup now plans to enter Nigeria, one of Africa’s top fintech hubs. “We’re already in talks with fintechs there,” Boumahdi said.
As digital payments grow more complex, PayTic’s all-in-one automation tools could become a must-have for financial companies across the region.
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