The investment is the first of its kind by MITC Capital’s Maroc Numeric Fund II.
Casablanca-based fintech startup, OnePay, has closed a $400,000 investment led by management company MITC Capital’s Maroc Numeric Fund II, a public-private investment fund focused on the financing of Moroccan tech startups, with participation from OnePay’s parent company, SisPay.
The Moroccan startup offers an inventive B2B digital payment solution that enables both offline and online businesses to aggregate their services on a platform so that customers are able to shop and pay online. Founded by seasoned fintech expert, Karim Zaltouni, the serial entrepreneur boasts over 21 years of experience as an active innovator in the e-payment and fintech industry.
Morocco has been looking to expand access to financial services through recent years, with government officials stating they will be utilising blockchain tech to better integrate the solutions, as part of a nation-wide financial inclusion strategy.
Dounia Boumehdi, Managing Director of MITC Capital, stated how OnePay’s high potential growth, across Morocco and Africa, and strengthening the continent’s strides for financial inclusion, was incentive enough for the investment. The investment will be used to expand OnePay’s team so that the fintech startup can widen the network to reach all the country’s corners.
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