MultiChoice fintech arm Moment secures R360m

MultiChoice’s fintech unit, Moment, has raised over $22 million in a Series A funding round led by AlphaCode Venture Partners. Existing investors General Catalyst and MultiChoice joined the round, along with new backer Canal+, which recently acquired the DStv operator.

From subscription payments to continent-wide expansion

Moment launched in May 2023 as MultiChoice’s solution to rising demand for digital payments in Africa. Initially, it served as a payment aggregator for DStv subscriptions while developing broader financial services. Since then, it has grown into a standalone fintech platform for corporate and enterprise clients across the continent.

The startup has now secured $55 million since its inception. The latest funding will strengthen its payment network, upgrade technology, and accelerate expansion across Africa. Moment offers businesses a unified platform to accept payments through various methods—cards, mobile money, bank transfers, eWallets, or in-person transactions—while managing failed payments, recurring billing, and customer communication.

For consumers, the platform allows customers to pay with any locally preferred payment method, spanning cards, mobile money, real-time bank transfers, eWallets, recurring bank debits, and in-person payments. The company processes payments for 10 million people monthly and partners with major African brands. Its in-person network covers over two million physical locations.

Building for Africa’s challenges

Moment’s CEO, Joel Yarbrough, stated the platform was built to address the continent’s specific hurdles. “We handle 600,000 transactions daily, even during power outages and connectivity issues,” he said. “Our system overcomes these problems, helping businesses receive payments faster and at lower costs.”

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The company’s reliability has attracted its new investors. Thomas Follin, chief diversification officer at Canal+, described Moment’s technology as “world-class” for enterprise billing in Africa. “It has reduced costs while improving service quality,” he said. “This presents a real chance to broaden financial access across the continent.”

Businesses gain from fewer failed payments, lower transaction fees, and a single system for multi-market billing. Consumers experience fewer payment obstacles, whether online or in person. Investors view this as a wager on Africa’s growing digital payment sector, which remains underdeveloped.

Moment’s next steps will likely include closer ties with Canal+’s operations, including DStv. The challenge will be scaling beyond its current reach while maintaining the adaptability that drove its initial success.

Similar infrastructure in other industries has shown how critical reliable systems are in regions with inconsistent connectivity.