Moment Raises $22M Series a for Africa Payments Growth

In Short

Moment has raised $22 million in a Series A round.

The round was led by AlphaCode Venture Partners, with follow-on funding from General Catalyst and MultiChoice, plus a new cheque from Canal+.

Moment says it will use the money to deepen its payments network, improve its platform, and expand across Africa.

What Happened

Moment, a pan-African fintech focused on payment infrastructure, announced it has closed a $22 million Series A funding round.

Payment infrastructure is the plumbing behind digital payments. It is the systems that let merchants accept money across bank transfers, cards, mobile money, and in-person cash-in points.

The round was led by AlphaCode Venture Partners. Existing backers General Catalyst and MultiChoice also participated, and Canal+ joined as a new investor. Moment said it has raised $55 million since inception.

CEO Joel Yarbrough said Moment processes payments for about 10 million people each month across major African brands. The company also claims an in-person acceptance network spanning more than two million physical locations, and says it processes around 600,000 transactions per day.

Moment is positioning itself as a single layer for “fragmented” African payments. That fragmentation shows up in different dominant payment methods by country, such as in-person retail payments in South Africa, instant bank transfers in Nigeria, and mobile money in markets with lower bank penetration.

Why It Matters

For large merchants and platforms, accepting payments across Africa is often slower and more expensive than it should be. Different rails, different operators, and uneven power and internet quality can raise failure rates and reconciliation work.

If Moment can reliably route payments across channels, it could reduce the hidden cost of collecting revenue. That matters for sectors like media subscriptions, ecommerce, and other high-volume enterprise use cases.

The investor mix also signals strategic interest. Canal+ recently acquired MultiChoice, and Moment’s network could support subscription collection and retention across multiple African markets.

More funding means more pressure to execute. Expansion will depend on regulatory compliance, local partnerships, and keeping uptime high in markets where outages are common.