Casablanca-based fintech OnePay has raised over $400,000 (MAD 4 million) from MITC Capital’s Maroc Numeric Fund II, the Moroccan startup announced in a statement to MENAbytes on Wednesday.
Founded earlier this year by Karim Zaitouni who has previously led different businesses including those in the financial technology space, OnePay enables both offline and online businesses to receive digital payments. Its platform acts as an aggregator for payments and value-added services, enabling customers of the entities that use its platform to make online payments.
OnePay was born as a result of investment by its parent company SisPay (also led by Karim Zaitouni) and Maroc Numeric Fund II. It is the first investment by Maroc Numeric Fund II. MITC Capital, the company that manages Numeric Fund II has previously made close to 20 investments through Maroc Numeric Fund I in Moroccan startups.
Dounia Boumehdi, Managing Director of MITC Capital, said, that they’re proud to invest OnePay which has strong growth potential in Morocco and across Africa by providing different financial services to address the financial inclusion challenges faced by the continent.
OnePay plans to use the entire investment in Morocco to expand its team and extend its network to a large number of users across the country.