The investment arm of Morocco’s state-owned financial institution which manages long-term savings in Morocco, CDG Group, has acquired a $337k stake in Morocco’s e-commerce startup GOAcommerce.

This investment comes at the conclusion of the startup’s involvement in the 212Founders support network, which is currently accepting applications for its third promotion. 

Following the completion of seven financing agreements for startups in the first batch of the 212Founders program, CDG Invest is now promoting the development of GOAcommerce, which can now enter the acceleration process of the program thanks to the funding allocated to it.

This seed funding is part of a larger fundraising round with a number of investors. It will enable GOAcommerce to move from the seed stage to the acceleration stage, allowing the young startup to accelerate its growth in the MENA region, beginning with Egypt. 

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Via technology and an aggressive recruiting strategy, this process will also help the startup strengthen its experience across the entire e-commerce value chain.

A Look At What The Startup Does

GOAcommerce is a startup that allows brands and manufacturers to outsource all aspects of their online sales management, regardless of the sales channel, which ranges from marketplaces to own sales platforms to social media sales. To run and maximize the sales of its clients, the startup integrates proprietary technology with its experience in online sales.

It’s a full-service solution that not only manages online exposure but also provides the logistical support needed to process and ship orders on behalf of its partner brands. As a reminder, GOAcommerce has assisted many multinationals in Morocco and Tunisia since its launch in 2018, including Unilever, Bosch, and Johnson & Johnson, with SEO services, online store management, as well as e-distribution, storage, and package delivery.

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