Cape Town start-up Happy Pay has raised $5-million to scale its merchant-funded buy now, pay later platform in South Africa.

TechCentral

Cape Town-based BNPL startup Happy Pay has closed a $5-million (R86-million) seed round led by Partech, with participation from Futuregrowth, 4Di Capital, and others. The company operates an ad-subsidised payments network where merchants, not consumers, fund instalment payments. Its AI-driven engine matches shoppers with merchant offers based on behavioural and transaction data, with merchants paying only on completed transactions. Happy Pay reports over 600,000 registered users and plans to use the capital to expand merchant partnerships, grow distribution channels, and enhance its recommendations engine.

Cape Town BNPL start-up Happy Pay raises R86-million in seed funding

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