MultiChoice-backed fintech Moment raises $22 million Series A
The fintech now processes 600,000 transactions daily just three years after launching.
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Moment, the fintech launched in 2023 by MultiChoice, Rapyd, and General Catalyst, has raised $22 million in a Series A funding round to accelerate its expansion across Africa.
The round was led by AlphaCode Venture Partners, with participation from existing investors General Catalyst and MultiChoice, as well as Canal+, MultiChoice’s new owner.
The latest investment brings Moment’s total funding to $55 million since its launch. The company plans to use the fresh capital to scale its payment infrastructure and expand into more African markets.
“Africa’s payment complexity has long been a hidden tax on commerce—on every business trying to grow here, and on every household trying to participate in the digital economy,” said Dominique Collett, general partner at AlphaCode. “Moment is dismantling that barrier in a way we haven’t seen before: at continental scale, compliantly, and with a product that the market’s largest enterprises have already validated.”
Moment provides businesses and consumers in South Africa with payment infrastructure that supports recurring payments and enables merchants to accept payments through a range of locally preferred payment methods.
Although the company was initially built to power payments for MultiChoice, it has since expanded well beyond the pay-TV giant.
According to CEO Joel Yarbrough, Moment now processes 600,000 transactions every day and serves up to 10 million people each month. He did not disclose what proportion of those transactions comes from MultiChoice-affiliated businesses.
“Our platform is highly resilient, processing 600,000 transactions a day despite the power and connectivity challenges that plague many African markets,” Yarbrough said. “We’ve built infrastructure designed for Africa’s unique operating environment, helping businesses get paid faster and at lower cost.”
For Canal+, which completed its acquisition of MultiChoice in 2025, the investment reflects confidence in Moment’s ability to expand financial access across the continent. The company also said Moment has already helped reduce payment processing costs for MultiChoice, demonstrating the scalability of its technology beyond its founding customer.
