MOROCCO – Damanesign, a Morocco-based digital trust solutions startup, has successfully raised MAD4 million (US$450,000) in funds led by Maroc Numeric Fund II to improve its digital products and develop its operations.
Damanesign provides electronic signatures, seals, and timestamps allowing users to sign and have documents signed in total security while guaranteeing their probative value.
Damanesign also offers advanced management of signature transactions (multiple signatories, documents and roles, etc.) and organisations (users and workflows).
“The Covid-19 crisis has demonstrated the importance for companies, public administrations, and individuals to have end-to-end dematerialised processes.”Mrs Dounia Boumehdi – Managing Director, MITC Capital
“The recent adoption of Law 43-20 on digital trust, opens the way to widespread and more accessible use of various services, including electronic signature,” Mrs Dounia Boumehdi, Managing Director of MITC Capital, said.
“The Covid-19 crisis has demonstrated the importance for companies, public administrations, and individuals to have end-to-end dematerialised processes, allowing to fluidify transactions of any nature. Our investment is part of this approach to democratising digital trust services by enabling companies of all sizes to take full advantage of the services and ergonomics of Damanesign.”
This round comes as a pivot point for Damanesign as they benefit from their newly acquired funding to hone their digital products and develop their operations.
Morocco currently has a more flexible but sophisticated legal framework, permitting the broad use of electronic signature, electronic seal, time-stamping, and electronic certification services, according to the enactment of Law 43–20 on digital trust in December 2020.