Visa Invests in Tunisia’s Konnect, Morocco’s PayTic After Accelerator
TLDR
- Visa has made strategic investments in Tunisian fintech Konnect and Moroccan firm PayTic following their participation in the Africa Fintech Accelerator program
- The move is part of Visa’s broader $1 billion commitment to financial inclusion in Africa by 2027
- The two startups were part of the most recent cohort of the accelerator, which launched in 2023
Visa has made strategic investments in Tunisian fintech Konnect and Moroccan firm PayTic following their participation in the Africa Fintech Accelerator program. The move is part of Visa’s broader $1 billion commitment to financial inclusion in Africa by 2027.
The two startups were part of the most recent cohort of the accelerator, which launched in 2023. Since its inception, the program has supported 64 startups across three groups. Earlier, four startups from the first cohort received funding from Visa.
Konnect provides link-based payment options via SMS, email, or messaging apps, targeting simplified digital payments in Tunisia. PayTic offers digital tools for payment service providers to automate compliance, risk monitoring, and operational workflows.
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Key Takeaways
Africa’s fintech sector has seen rapid growth, driven by mobile money adoption and a young, tech-savvy population. According to the African Fintech Report by Briter Bridges, the continent had over 1,000 active fintechs as of 2024, with funding surpassing $2.5 billion in 2023. North Africa, traditionally behind sub-Saharan countries like Nigeria and Kenya in fintech adoption, is gaining ground. Tunisia and Morocco are emerging hubs, with rising startup activity and improving regulatory frameworks. Visa’s investments signal growing investor interest in scaling payment infrastructure in these regions. As global firms expand into African markets, local fintechs are gaining access to new resources and networks. This aligns with a broader shift from basic mobile money to more advanced digital financial services across the continent.
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