Pan-African payments company Moment has closed a $22 million Series A round to expand technology built for corporate and enterprise merchants. AlphaCode Venture Partners led the financing, with General Catalyst and MultiChoice investing again and Canal+ joining as a new backer. Moment says it has now raised $55 million since inception.
The investment targets a problem that changes from market to market rather than a single payment rail. In South Africa, more than two-thirds of payments still occur in person despite high bank penetration. Instant bank transfers dominate in Nigeria alongside cash, cards and wallets, while mobile money is widespread but divided among numerous operators elsewhere.
Moment's platform is designed to place those methods behind one enterprise connection. It supports cards, mobile money, real-time bank transfers, electronic wallets, recurring bank debits and in-person acceptance, allowing companies that operate in several African markets to adapt collections to local behaviour without building a separate system for every channel.
The product focuses on the parts of payments that determine whether revenue is retained after the initial checkout. Insurers, subscription platforms and other billers can use recurring-payment tools, customer outreach and failed-payment recovery across digital and physical channels, while direct links to enterprise billing systems connect collection with reconciliation and back-office workflows.
Chief executive Joel Yarbrough says Moment now processes about 600,000 transactions a day and reaches 10 million people a month through client brands. The company also reports an in-person acceptance network spanning more than two million physical locations. Those are company-provided operating metrics and were not accompanied by audited payment value, revenue or profitability figures.
Moment combines application programming interfaces with low- and no-code products intended to shorten merchant implementation. That architecture is particularly relevant where power and connectivity interruptions can disrupt payments: the company presents resilience and support for locally preferred methods as core features, not merely the number of countries or methods connected.
The investor group links venture capital with large corporate payment users. AlphaCode general partner Dominique Collett framed fragmented payments as a cost imposed on commerce. Canal+'s first investment followed its acquisition of MultiChoice, and the media group identified subscription and billing technology as a route to broader digital financial access across the continent.
Moment will use the Series A to deepen its network, improve the platform and accelerate African expansion, but it did not disclose valuation, ownership dilution, revenue or a country-by-country rollout. The next evidence of scale will therefore come from new enterprise deployments, reliable recovery and settlement across fragmented rails, and growth that can be measured beyond the operating figures supplied by the company.
