Tunisian fintech startup Konnect has successfully raised $1.5 million in a funding round aimed at scaling its digital payment solutions across North Africa.
The round saw participation from notable investors, including Attijariwafa Ventures, Renew Capital, Digital Africa Ventures, Sunny Side Venture Partners, Plug and Play Africa, and 54 Collective.
Founded in 2021 by Amin Ben Abderrahman, Konnect offers a comprehensive suite of payment solutions, including seamless payment links, e-commerce plugins, and a robust API.
These tools are designed to cater to businesses of all sizes, enhancing their online payment experiences. The platform is licensed by the Central Bank of Tunisia and is PCI DSS compliant, ensuring secure and efficient transactions.
“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 commitment to financial inclusion extends to addressing barriers faced by the unbanked and underserved communities. Through partnerships with organizations like Visa, Konnect is working to extend secure payment services to previously excluded segments of the population. The platform also integrates advanced fraud detection and remote onboarding technologies to ensure both security and scalability.
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“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.”
Konnect Scaling Operations and Setting Sights on Regional Expansion
With the new funding, Konnect plans to enhance its platform’s capabilities and expand its operations throughout North Africa. The startup aims to play a pivotal role in accelerating the region’s adoption of digital payments, particularly as e-commerce and cross-border trade continue to grow.
Konnect’s participation in the Visa Africa Fintech Accelerator program has further solidified its position in the fintech ecosystem. As the only Tunisian startup selected for the program’s first cohort, Konnect has benefited from training, mentorship, and networking opportunities, enabling it to scale its solutions effectively.
Looking ahead, the startup aspires to become the “Stripe of Tunisia and North Africa,” aiming to provide fast and secure online payment solutions to the region’s unbanked population. With a dynamic ecosystem of merchants and freelancers, the startup is well-positioned to achieve this goal and contribute to the growth of Africa’s e-payments market, which is expected to reach around $40 billion by 2025.
As Konnect continues to innovate and expand, its efforts are poised to drive financial inclusion and economic development across the MENA region.
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