Morocco: Renew Capital invests in fintech company
Investment firms Renew Capital and Witamax have provided funding to Talaty.
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Investment firms Renew Capital and Witamax have provided funding to Talaty, a Moroccan fintech that facilitates financing for small and medium-sized businesses (SMBs).
The company’s technology streamlines traditional financial processes, enhancing access and efficiency for healthy SMBs seeking working capital.
“Securing financing is a significant hurdle for SMBs with many bankruptcies among these businesses stemming from payment defaults,” stated Soulaimane Lahrech, CEO of Talaty. “Our AI-driven platform streamlines the process, enabling our partners to deliver timely and effective financial support to these businesses.”
“Talaty is providing a much-needed solution to Morocco’s financial institutions regarding SMB financing challenges,” said Nihal Grii, investment ecosystem development manager at Renew Capital. “This initiative represents a genuine stride toward financial inclusion, as it equips institutions with the necessary tools to broaden the scope of SMBs they can serve, enhancing access to essential financial services for a larger segment of the business community.”
With Witamax and Renew Capital’s investment, Talaty plans to grow its activities, scale its platform and expand its AI-driven credit solutions into Francophone Africa.
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