OnePay, a Moroccan fintech that operates as a distributor of means of payment and aggregator of payment and value-added services in electronic transactions has raised a MAD 4 million ($409,000) investment from Maroc Numeric Fund II. The startup plans to invest the fund in its operations in Morocco.
Here Is What You Need To Know
- The Moroccan OnePay ’s latest investment is the result of a co-investment between the MNF II fund and SisPay S.A., an expert in the development of banking and private payment solutions and value-added services.
- Its unique integrated platform ”SISWIN”, which encompasses in a single homogeneous and harmonized platform the payment tools, management of virtual cards, Mobile Wallets (with all its components) and value-added services (loyalty, oil payment systems, phone top-up, discount card, virtual gift vouchers, etc…), is now installed in several major accounts in Morocco and Africa.
- They will enable the company to invest in technical, marketing and commercial resources in order to extend its network to a large number of users.
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Why The Investor Invested
Maroc Numeric Fund is since 2010, the reference investment fund in technology startups in Morocco. The expertise accumulated by its management team has led to the emergence of several Moroccan success stories. More than a simple financial leverage, Maroc Numeric Fund is a real accelerator for high-potential start-ups. It acts as an active shareholder by providing its portfolio companies, in addition to investment, with advisory and support for their managers, while holding a seat on their boards.
This is the 1st investment of the new fund Maroc Numeric Fund II and the 18th investment of its management team, taking into account the investments made by the fund Maroc Numeric Fund I, which is now in a divestment phase.
“The management team of the fund is proud to accompany OnePay startup which has a strong growth potential in Morocco and on the African continent, by responding to the major issue of financial inclusion through the expansion of access to financial services,” Mrs. Dounia Boumehdi, Managing Director of MITC Capital, the management company of Maroc Numeric Fund II, said.
A Look At What The Startup Does
The OnePay platform acts and serves as a reference solution for the aggregation of payments and value-added services in electronic transactions.
The co-founder of OnePay, Karim Zaitouni has over 21 years of experience as an innovative and dynamic player in the field of electronic payment and value-added transactions.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer