In a move signaling its intent to fortify its position in the realm of consumer goods distribution, Cash Plus, Morocco’s preeminent financial services company, has made a strategic investment in the burgeoning startup SLE3TI. This investment has been channeled through Cash Plus’ VC investment structure, designed exclusively for fostering the growth of startups.
SLE3TI, a company specializing in the distribution of everyday consumer products to local grocery stores, has now become an integral part of the dynamic Cash Plus ecosystem. Established in 2020 by entrepreneur Ayoub Hreij, SLE3TI has amassed a comprehensive database of over 10,000 active grocery stores situated primarily in Casablanca.
The acquisition of this strategic stake marks a pivotal milestone for Cash Plus, as it endeavors to not only extend its reach but also diversify its operations within the constantly evolving consumer goods distribution sector. What sets SLE3TI apart is its innovative technology platform, which streamlines transactions between local grocery retailers and suppliers of commonplace consumer products.
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The SLE3TI application stands out for its user interface and functionalities, meticulously tailored to cater to the unique requirements of the local market. By doing so, the platform has succeeded in simplifying procurement procedures, optimizing inventory management, and reinforcing the connections among key stakeholders within the supply chain.
Founder of the startup, Ayoub Hreij, expressed his enthusiasm about the collaboration, stating, “We are delighted to become a part of the Cash Plus family. Their wealth of financial services knowledge and unwavering commitment to innovation perfectly resonate with our mission of enhancing the operational efficiency of local grocery stores. Together, we aim to deliver invaluable services, encompassing money transfers and bill payments, to a multitude of users on a daily basis.”
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With this strategic investment, Cash Plus has demonstrated its forward-looking approach and aspiration to remain at the forefront of innovations that reshape the consumer goods distribution landscape. The synergy between Cash Plus and SLE3TI holds the potential to not only revolutionize the grocery retail sector but also significantly elevate the standard of services offered to end-users.
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