Moment Secures $22 Million In New Investment
Moment, a financial technology company owned by MultiChoice, has closed a $22 million (about R363 million) Series A funding round. AlphaCode Venture Partners led the round. This marks a major milestone in this latest chapter of MultiChoice fintech funding.
The round also drew continued backing from General Catalyst and MultiChoice. Fresh money came from Canal+, MultiChoice’s new owner. This mix of returning and new investors shows strong confidence in Moment’s growth plan.
MultiChoice helped launch Moment back in 2022 as a joint venture with payments company Rapyd, alongside investors such as General Catalyst. The company grew steadily through 2023. It officially launched to the public in 2024.
How Moment Powers DStv and GOtv Payments
DStv stands as one of Moment’s biggest customers. The company handles subscription payments for DStv, GOtv, and previously Showmax, pulling together many different African payment methods into one simple system.
Moment called MultiChoice its “flagship partner.” The broadcaster gave Moment access to its wide network of payment integrations and huge transaction volumes. That support meant Moment had a large customer base and solid operations right from the start.
Since it began, Moment has raised more than R900 million in total funding. The company plans to use this new cash to strengthen its network, improve its platform, and speed up its growth across the African continent.
Why This Fintech Funding Round Matters For Africa
Dominique Collett, General Partner at AlphaCode Venture Partners, explained why this deal matters. She said Africa’s payment complexity has long acted as a hidden tax on commerce. Businesses trying to grow on the continent feel that tax, she added, and so do households trying to take part in the digital economy.
According to Collett, Moment is dismantling that barrier in a way not seen before. It works at a continental scale, stays compliant, and offers a product that the market’s largest enterprises have already tested and approved. She said AlphaCode is backing Joel Yarbrough, Moment’s CEO, and his team as they build what she called a defining piece of Africa’s financial infrastructure.
Africa’s Payment Landscape Remains Deeply Fragmented
Africa’s payment systems are famously scattered, and how people pay changes a lot from country to country.
Most South Africans still prefer to pay in person at shops, even though many people there have bank accounts. Nigeria tells a different story, where instant bank transfers lead the way, though cash, cards, and digital wallets all compete strongly too. Mobile money has grown fast in many other African markets because fewer people have bank accounts there. Yet these mobile platforms remain split across dozens of separate operators, and no single provider can currently offer businesses one unified way to collect payments.
Moment’s CEO On Solving Africa’s Payment Puzzle
Joel Yarbrough said Moment was built specifically to fix this problem. Within three years of launching, he said, the company now processes payments for 10 million people every month across some of Africa’s leading brands.
Local shoppers can pay however they prefer, Yarbrough explained, since Moment supports the full range of digital payment methods used in each market. The company also runs an in-person payment network covering more than two million physical locations.
Canal+ Sees Big Opportunity In African Fintech Growth
Thomas Follin, chief diversification officer at Canal+, said his company examined Moment closely after acquiring MultiChoice. He described the team as genuinely impressed, noting that Moment had driven down costs while improving quality at the same time. Follin said the business delivers world-class technology for enterprise-level subscription and billing clients operating across Africa.
Canal+ now sees a strong opportunity to work with Moment, Follin added, to expand access to digital financial services across the continent.
