Mediterrania Capital Partners Leads $60 Million Investment In Moroccan Fintech Cash Plus
Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, has announced a €57 million investment in Moroccan financial services provider CASH PLUS together with FMO, the Dutch entrepreneurial development bank, and IFC, a member of the World Bank Group.
CASH PLUS is one of the fastest-growing financial institutions in Africa.
The company provides various financial services, including online payment and transfer services, bill settlements, and other modern payment solutions.
The €57 million investment will support CASH PLUS as it continues to expand its network in Morocco and abroad and enhance its digital financial services offerings while boosting financial inclusion across Morocco.
“We are excited to partner with CASH PLUS, a leading fintech company in Morocco with a strong track record of innovation and growth,” said Hatim Ben Ahmed, Managing Partner at Mediterrania Capital Partners.
“We believe CASH PLUS is well-positioned to capitalize on the growing demand for digital financial services in Morocco and across Africa. We look forward to working with the CASH PLUS team to support their expansion plans and help them achieve their mission of promoting financial inclusion.”
The investment in CASH PLUS is a testament to the growing interest in fintech companies in Africa.
The continent is home to a number of rapidly growing economies with a large young population.
This, combined with the low penetration of financial services in many African countries, presents a significant opportunity for fintech companies.
Meanwhile, the latest investment in CASH PLUS is also expected to boost financial inclusion in Morocco.
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