Happy Pay secures $5M seed to launch Africa's first ad-supported BNPL network
Happy Pay, South Africa's buy-now-pay-later startup, raised $5 million in seed funding to scale Africa's first ad-supported payments network. The investment led by Partech will expand merchant partnerships, distribution across online and offline channels, and AI-powered recommendations. CEO Wesley Billett stated the mission is to make cash-flow management free for consumers by connecting products to the right people at the right moment. South Africa's BNPL market is growing rapidly, with 56.5% adoption for online purchases and $815M in transaction values in 2025. Happy Pay's model shifts payment costs to merchants through targeted advertising, using AI to match shoppers with offers. The company has 600,000 users and generates revenue through merchant funding for flexible payments and advertising.