Every year, the World Economic Forum recognizes a limited number of early-stage companies involved in design, development and deployment of new technologies and innovations, and are poised to make a significant impact on business and society as Technology Pioneers.
This year, WaystoCap, a Casablanca-based cross-border B2B ecommerce marketplace has been named among 61 companies for the Technology Pioneers cohort.
Founded in 2014 by Niama El Bassunie, Anis Abdeddine, Mehdi Daoui, Aziz Jaouhari Tissafi, WaystoCap allows businesses to in Africa to buy and sell products online using its marketplace. The startup uses technology to empower both small businesses and large companies find verified trusted suppliers and buyers and then facilitate the transactions with completely secure payments.
It is one of the very few startups from MENA to take part in the prestigious Y Combinator’s acceleration program last year before raising $3 million in seed funding from YC, Battery Ventures, Endure Capital and others. for businesses in Africa to buy and sell products.
As a result of joining the Technology Pioneers cohort, WaystoCap along with other selected companies will take part in World Economic Forum’s initiatives, activities, and events over the period of two years. Some of the other selected companies in this year’s cohort include Hyperloop Transportation Technologies, Drive.ai and Fetch Robotics.
These companies were chosen by a selection committee of more than 60 academics, entrepreneurs, venture capitalists, and corporate executives, including, Esther Dyson, the founder of Way to Wellville, Neil Rimer, General Partner and co-founder of Index Ventures and Lee Sang-Yup, Distinguished Professor and Dean at Korea Advanced Institute of Science and Technology. The criteria for selection was based on innovation, potential impact, and leadership of the companies. Past recipients include
Speaking about the honor, WaystoCap’s founder & CEO Niama El Bassunie, said, “The Fourth Industrial Revolution, a concept born from the World Economic Forum, is unfolding before our eyes. At WaystoCap’s we are creating a trust network that allows African businesses to trade internationally.”
“We are building an online marketplace using technology based around trust, verification, and security so African SMBs can buy and sell globally; revolutionizing the way they do business, and opening up opportunities that have not existed previously,” she added.
Companies selected as Technology Pioneers in the past include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
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