A group of investors led by Attijariwafa Ventures, Renew Capital, Digital Africa Ventures, Sunny Side Venture Partners, Plug and Play Africa, and 54 Collective has raised $1.5 million for Konnect Networks, a Tunisian fintech company that specialises in digital payment solutions.
For the startup, the investment represents a major turning point as it looks to grow its business and improve the capabilities of its platform throughout North Africa.
One of the investors, Plug and Play Africa, said on Tuesday, “We are thrilled to announce our investment in Konnect Networks, a Tunisian fintech pioneering digital payment solutions in North Africa!”
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Konnect Networks: a major force in local digital economy
Amin Ben Abderrahman founded Konnect Networks in 2021, and since then, it has established itself as a major force in the local digital economy.
Businesses can handle both domestic and foreign transactions using the company’s payment gateway, meeting the increasing need for safe and easy e-commerce solutions.
Its resources, which include e-commerce plugins, payment links, and a strong API, are designed to increase the accessibility of digital payments for businesses of all kinds.
“We’ve built Konnect to make digital payments more accessible, secure, and user-friendly,” said Abderrahman. “Our platform enables businesses and individuals to manage their payments seamlessly, supporting both financial growth and digital transformation across the region.”
The company’s dedication to financial inclusion includes removing obstacles that underprivileged and unbanked communities confront.
Konnect is attempting to provide safe payment services to previously unreached demographics through collaborations with groups such as VISA. To guarantee security and scalability, the platform also incorporates cutting-edge fraud detection and remote onboarding technology.
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Konnect to promote financial inclusion and economic development with the $1.5m fund
Renew Capital’s strategic commitment to promoting innovation throughout Africa’s fintech and e-mobility sectors is reflected in its investment in Konnect, which represents the company’s first foray into Tunisia.
“Konnect is setting a new standard for digital payments in North Africa,” said Karim Ben Fadhel, Renew Capital’s investment ecosystem development manager. “Their innovative approach combines cutting-edge technology with a deep commitment to financial inclusion, which aligns perfectly with our mission of driving impactful change through investment.”
The investment comes as Konnect seeks to expand its business and advance its goal of modernising the financial sector in North Africa.
The Central Bank of Tunisia has acknowledged the startup’s scalable and secure infrastructure, anticipated to hasten the region’s adoption of digital payments, especially as e-commerce and cross-border trade continue to expand.
The investment also demonstrates how regional and international investors are becoming more interested in North Africa’s fintech industry. By expanding its market reach and improving its technology, Konnect Networks hopes to use this funding to promote financial inclusion and economic development in underprivileged areas.