Three years after its creation, Attijariwafa Ventures continues to back Africa’s rising tech scene with targeted investments in early-stage innovation. The investment arm, backed by Attijariwafa Bank and Wafa Assurance, has just joined a $1.5 million funding round for Konnect Networks, a Tunisian startup specializing in digital payment solutions.
The round attracted several other prominent investors, including Utopia Capital Management, 54 Collective, Visa, Plug and Play Tech Center, Renew Capital, Digital Africa Ventures, and Sunny Side Venture Partners. With this fresh capital, Konnect plans to strengthen its tech infrastructure and accelerate its expansion across North Africa.
Founded in 2021 in Tunis by Amin Ben Abderrahman, Konnect has built its model around simple, scalable, and secure payment tools tailored for the digital economy. In just three years, the company has captured 4% of Tunisia’s e-commerce market and has maintained monthly growth rates above 20%. It also became the first company in the country to receive a Payment Facilitator license from the Central Bank—a key milestone in a tightly regulated financial ecosystem.
Attijariwafa Ventures supports emerging startups through a dual-track approach: direct equity investments of up to $3 million, along with privileged access to the group’s infrastructure and networks. With a presence in 27 countries and a customer base exceeding 12 million, the bank offers startups more than just funding—it provides the tools and scale to grow regionally. Importantly, this support comes without exclusivity clauses, giving founders the freedom to chart their own course.
Led by Hamza Mikou, the fund targets startups in early or growth stages, not only across Africa but also in Europe and the Middle East. Its recent backing of Konnect is part of a broader push to fuel the continent’s innovation pipeline.
On April 10, Attijariwafa Ventures signed a strategic partnership with UM6P Ventures, the investment arm of Mohammed VI Polytechnic University. The agreement will allow both entities to co-invest in high-potential sectors such as fintech, insurtech, deeptech, and greentech.
Through this alliance, the group aims to help build a dynamic pan-African tech ecosystem—one capable of producing the next generation of global innovators.
