PaySika provides banking services through chatbots on popular messaging apps (Facebook Messenger, WhatsApp, Telegram) and leverages widely used mobile-money infrastructure so users can onboard with their mobile-money phone numbers. The product offers free physical and virtual debit cards and enables transfers via messaging apps without requiring the standalone PaySika app or website. The startup completed a fully locked MVP after initial support including $23,000 from French Tech Tremplin and friends-and-family funding. Its business model charges a 1% transaction fee on transfers while issuing cards for free; the company reports over 20,000 pre-registrations (about 90% aged 18–35). Founders cite heavy regulation in Francophone Africa and say they have partnered with financial institutions to implement the service and navigate compliance. Planned product expansions include obtaining a banking licence, adding savings accounts, enabling offline transactions (explicitly not USSD), and hiring senior developers and a marketing team.

Total raised

$0M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2021