Casablanca/Tunis — In a significant move to bolster fintech innovation across Africa, Attijariwafa Ventures—the corporate venture arm of Attijariwafa Bank Group and Wafa Assurance—has announced a $1.5 million investment in Konnect Networks, a rapidly growing Tunisian fintech startup.
The funding round drew participation from several prominent investors, including Utopia Capital Management, 54 Collective, Visa, Plug and Play Tech Center, Renew Capital, Digital Africa Ventures, and Sunny Side Venture Partners.
Founded in 2021 by Amin Ben Abderrahman, Konnect Networks is recognized for its simple, secure, and scalable digital payment platform that serves both online and in-store merchants. The startup holds the distinction of being the first Payment Facilitator licensed by the Central Bank of Tunisia and currently commands 4% of the local digital payment market, with monthly growth exceeding 20%.
This strategic investment is aimed at accelerating Konnect Networks’ expansion across North Africa and enhancing its platform capabilities. It also aligns with Attijariwafa Ventures’ mission to support high-potential fintech companies that are driving financial inclusion and digital transformation, particularly in underserved regions.
Operating under a two-pillar strategy, Attijariwafa Ventures focuses on:
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Equity investments in minority shares ranging from $200,000 to $3 million.
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Ecosystem integration of portfolio startups within the Attijariwafa Bank Group, which operates in 27 countries, enabling regional scale without exclusivity constraints.
In a further show of commitment to innovation, Attijariwafa Ventures has also signed a framework agreement with UM6P Ventures, the investment arm of Mohammed VI Polytechnic University, to jointly finance startups in fintech, insurance, and green tech.
This initiative reinforces Attijariwafa Ventures’ position as a catalyst for Africa’s fintech ecosystem, as it continues to empower the next generation of innovators and contribute to establishing the continent as a global hub for financial innovation.
