CDG Invest, the investment branch of the CDG Group, has exciting news to share with the Moroccan Fintech community. The company’s 212Founders program has announced the launch of the Fintech Center, a studio offer dedicated to Fintechs operating in the finance and insurance sectors in Morocco.
In a press release, CDG Invest stated that the Fintech Center is part of their ongoing efforts, in collaboration with Bank Al-Maghrib, to promote financial innovation in Morocco. The Center has a triple ambition: to boost the Fintech ecosystem in Morocco, to bring out national champions, and to support their internationalization in similar markets.
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This support system is designed to run over 18 months, starting from the ideation phase to the launch of the product. CDG Invest will provide pre-seed investment ranging from 2 million dirhams to 7 million dirhams to qualified candidates. To qualify, candidates must have technological experience or training in financial services or consulting, entrepreneurship, and carry an innovative, scalable, and high-value project or project idea in the fields of finance and insurance.
The Fintech Center is primarily aimed at Moroccan entrepreneurs and startups and their projects must be pre-MVP or MVP (Minimum Viable Product) targeted towards the Moroccan market. For project leaders in the banking and/or payment sectors, the program offers a privileged partnership with CIH Bank and LANA CASH (Payment institution and subsidiary of CIH Bank).
Through this partnership, project leaders will have access to three components of ambitious support. The strategic component includes studying and advising on the business model. The functional component helps to deepen the operational and regulatory model, with opportunities for Fintechs to rely on CIH Bank and/or LANA CASH for regulatory compliance of their operations. Finally, the technical aspect includes the provision of an isolated test environment that Fintechs can use to develop their digital services, imitating the production environment of banking services.
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Overall, CDG Invest’s Fintech Center represents a significant opportunity for Moroccan entrepreneurs and startups to access the support and resources needed to bring their innovative financial services projects to market.
CDG Invest fintech morocco
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