Morocco-based FinTech raises first funds

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The Morocco-based FinTech and digital POS provider has raised an undisclosed amount in its first fundraise led by WitaMax, a joint venture by Southbridge A&I and Axxam Family office.

Founded in 2016, WitaMax offers a digital solution for the management of physical points of sale (POS), serving the Casablanca catering market with a base of more than 250 points of sale. Founded by Said Belkhayat, former tech-savvy consultant, and Rim Benboubker, pugnacious manager; quickly positioned itself as a key player in the digitization of local shops through its unique solutions, combining both cutting-edge technology and hands-on human support. is one of a vast number of FinTech startups leveraging technology to provide financing, payment, and money management solutions for SME's and other stakeholders across Emerging Venture Markets. As recorded in our  H1 2021 EVM Fintech Venture Investment Report, funding in FinTech in H1 2021 across all three geographies in EVMs (MENA, Pakistan, and Turkey) have surpassed that of Full Year 2020, with FinTech startups closing the highest ever half-yearly amount of deals in the first of the year. This latest investment comes amidst a growing wave of FinTech-focused appetite by regional and international investors as we approach the end of the year. 


Since its launch, the Morocco-based FinTech startup offering a digital solution for intelligent management of points of sale has quickly been able to impact the Casablanca catering market with a base of more than 250 points of sale, “sorted on the shutter”. Today being on the way from 1000 customers, spread over 3 flagship cities of the kingdom; the start-up has a clear roadmap “…to both rapidly deploy throughout the country, and to be exported to more distant regions, where demand is no less important,” as highlighted by Said Belkhayat.

Driven by data and years of POS management, is working to offer managers and restaurant owners, in particular, an almost exclusive digital partner offering a 360“hassle-free” checkout, centralizing and consolidating all the tools they need on a daily basis to manage their customers and business operations. 

The FinTech startup plans to use its newly acquired funds to further develop its offering in order to expand its target market and keep consisting in providing digital solutions. In light of this first investment, Rim Benboubker reflected on the team’s latest innovation indicating the team’s tech potential “During the Covid period, we focused on developing a solution to help our physical customers switch to a delivery model, by launching an aggregation platform for restaurateurs:”.

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