Cape Town-based fintech Moment has closed a $22 million Series A funding round. The company will use the capital to build one of Africa’s most advanced payment infrastructure platforms, it announced this week.
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AlphaCode Venture Partners led the round. Existing investors General Catalyst and MultiChoice also joined in, alongside a first-time investment from French media giant Canal+. Notably, Canal+ completed its acquisition of MultiChoice last year. Moment is also backed by Entree Capital, the Raba Partnership and Helios Investment Partners.
The fresh capital brings Moment’s total funding since launch to $55 million. Joel Yarbrough founded the company three years ago. Since then, it has grown into a pan-African payments provider serving large corporates and enterprise merchants. Today, Moment has offices in Cape Town, Dubai, Johannesburg, Lagos, Kigali and London.
So what does Moment actually do? It offers billers and merchants, including insurers and subscription platforms, a full suite of collection tools. These include recurring payments, customer outreach, failed payment recovery, and direct links into enterprise billing systems. According to the company, its platform processes 600,000 transactions every day. That works out to roughly 10 million users a month across the continent. Moment also runs an in person acceptance network spanning more than two million physical locations.
This scale matters because Africa’s payments landscape is deeply fragmented. For example, South Africa has a highly banked population. Yet most transactions there still happen in person at retail points. Nigeria, meanwhile, leans heavily on instant bank transfers alongside cash, cards and mobile wallets. Across East and Francophone West Africa, mobile money dominates instead. But it is split among dozens of competing operators with no single provider tying them together. Moment’s pitch is simple: it can absorb that complexity for enterprise clients. As a result, businesses can collect payments confidently across markets and get their money faster.
Dominique Collett, general partner at AlphaCode Venture Partners, said Africa’s payment complexity has long acted as a hidden tax on commerce. This affects businesses trying to grow on the continent. It also affects households trying to participate in the digital economy. She described Moment as a genuine innovation partner, pointing to embedded insurance in payment flows, data driven collection optimisation, and mass market payment options. In her view, the new funding gives Moment the runway to accelerate what it has already proven works.
Canal+’s involvement stands out for another reason. The company now holds a direct financial stake in payment infrastructure that serves its own DStv and streaming subscribers. This suggests media companies increasingly want to own the full customer journey, from content all the way through to collection.
Giulio di Giannatale, technical lead at South African insurer Sanlam, added that the two companies are working on a shared roadmap. It includes embedded insurance within payment flows and further collection optimisation.
Looking ahead, Moment plans to use the new capital in three ways. First, it wants to deepen its payment network. Second, it aims to strengthen platform resilience. Third, it plans to accelerate expansion into additional African markets. Still, the startup faces a growing field of payment orchestrators and gateway providers competing for enterprise business on the continent. However, its focus on recurring revenue collection for large corporates places it in a more specialised niche. Overall, the raise adds to a broader run of investor interest in African fintech infrastructure, even as venture funding across the continent has grown more selective.
