Casablanca, January 22, 2019 – WaystoCap, Morocco-born B2B ecommerce marketplace, has been named “Technology Pioneer” by the World Economic Forum and is attending Davos which starts today. It is the first startup from Morocco and North Africa to ever receive the award, with Niama El Bassunie, Founder and CEO of WaystoCap, being invited to speak on a number of panels with world leaders.
WaystoCap is also the first startup from Morocco to have attended Y Combinator (accelerator backing Airbnb and Dropbox) and are backed by some of the best early stage US and international investors including BatteryVentures (investors in Google), 4DX Ventures (investors in Flutterwave) and Endure Capital (investors in Careem). WaystoCap is also backed by Moroccan Pan-African VC, Outlierz Ventures.
WaystoCap is a B2B marketplace focused on unlocking African trade. The startup helps importers and exporters buy and sell goods all over Africa by taking the pain out of working internationally for African businesses and improving their ability to trade. The platform helps them find partners regionally and internationally; sourcing the most competitive prices; offering better payment terms; securing trade through insurance, warehouses and other mechanisms and supporting the entire transaction. They use technology to generate trust, create transparency, and efficiency in the entire trading process.
A fast-growing startup expanding to West Africa
After raising $3m USD in the last year, WaystoCap has been growing rapidly and recently expanded its presence in two new exciting markets: Burkina Faso and Togo with existing offices in Benin. Businesses have been using WaystoCap to buy and sell products from multiple categories including food, construction and hygiene industries.
WaystoCap has also recently introduced two new services (WaystoCap Local and WaystoCap Logistics) to help buyers and suppliers in these markets get closer to their customer and unlock the huge potential in African trade. A number of Moroccan and international companies have already leveraged the services to get their products closer to local buyers, and have WaystoCap manage the entire trade for them, from order, to payments, to logistics, to last mile delivery. All through one centralized platform.
“With the recent funding, the new products and geographical expansion, we intend to accelerate our reach in Africa even more in order to help the entire continent develop,” shared Niama El Bassunie. “Having been named ‘Technology Pioneer’ by the World Economic Forum has a particular significance as WaystoCap is the first startup from Morocco and North Africa to ever receive the award. Besides, the invitation to attend the World Economic Forum in Davos, Switzerland, and be among world leaders engaged in important issues that impact the global agenda is a huge opportunity for us that we must take to raise the visibility of Africa and its opportunities.”