Less than two years after obtaining 2 million Moroccan dirham from WITAMAX, Moroccan supplier spend management startup Konta, has obtained $1.15M (or 12 million Dh) from the Azur Innovation Fund.

Azur Innovation Fund’s latest fundraising effort seeks to boost both domestic and global growth. Moreover, it will work to better position Konta to provide businesses with additional financial performance levers.

A Look At What Konta Does

Founded in 2019 by the trio of Issam Dahman, Mehdi Zirari and Elarbi Aboussouror, Konta was able to consolidate its product and sign with several clients in Africa and Europe, before carrying out its first fundraising in Seed DE from Witamax.

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The startup, which is primarily targeting large accounts as well as Moroccan and international SMEs, aims to provide technology that streamlines and simplifies the process of managing supplier expenses through a systematic process, saving time, money, and resources for businesses in sectors such as banking, insurance, aviation, and the automotive industry.

In addition to streamlining and simplifying the process of processing supplier expenses, the startup also addresses issues such as regulatory compliance, error, omission, and fraud by ensuring an automatic audit and real-time approval of each supplier invoice, making the financial functions’ approval process much shorter and less complex.

As a result of this dual ability, Konta is able to assist organizations in maintaining their relationships with their suppliers while also consolidating their key service provider base.

Thanks to its SaaS model, KONTA™ has won over several SMEs and large companies on the Moroccan market, but also in West Africa and Europe.

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KONTA™’s first fundraising enabled it to develop elaborate functionalities to standardize and internationalize its product.

The founders of KONTA™ and their investors are confident in the future and already intend to begin their quest for a Series A.

Moroccan Spend Management Startup Konta Raises $223k

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