Spotter, a Moroccan open finance startup, has raised an unknown sum of money from UM6P Ventures. LinkedIn, a professional networking platform, was used to make the announcement.
The startup participated in Morocco’s first Plug & Play acceleration programme.
Spotter, founded by Abdele Boukachabine and Mamoune Kettani, creates an application programming interface (API)-driven platform that assists financial institutions in analysing consumer financial data, allowing millions of people to gain greater credit access while expanding the capabilities of lenders and other fintech companies. The startup employs technology such as optical character recognition (OCR) to provide quick cheque verification to businesses dealing with an increase in the number of returned cheques.
Read also Egyptian Fintech Startup Money Fellows Raises $31M In Series B Funding Round
Spotter plans to make its product available to local banks seeking precise banking data about Spotter’s potential customers.
Open banking has gained popularity recently, with national banks collaborating with startups to develop APIs to provide digital finance services. Nonetheless, the country lacks a coherent approach to pushing standardised APIs.
Spotter open finance
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh