Multichoice’s Fintech Platform Moment Raises $22 million Seed Round, Valued At $82 million

Moment, the fintech platform launched by Multichoice in May 2023, is now valued at $82 million following a seed extension round. Multichoice contributed $8 million to the round and now owns a 29.6% stake.

When launching Moment last year, Multichoice aimed to position the platform as a payment infrastructure for businesses across Africa to help them collect and make payments. The platform also sought to offer options for consumers to spend and save money.

After a year of operations, Moment is the cross-border card payments provider for 44 Showmax markets. The platform is also a payments provider for DStv in South Africa, accounting for over 30% of the total value of DStv payments.

“[Moment also] secured critical licenses in South Africa, with licensing underway in other core markets,” said Multichoice in its annual financial results.

Additionally, the fintech platform is also currently piloting instant payment and account activation for DStv with beta users.

Moment was launched in partnership with Rapyd, a B2B payment processing platform, and General Catalyst, a venture capital firm that provides early-stage and growth equity investments.

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