Yalla Xash solution is centred on the two main actors, sender and receiver, at both ends of the transfer chain. On the sender side, the whole process is based on a smartphone application, available on AppStore and PlayStore avoiding several intermediaries to carry out the transfers. Yalla Xash’s offer is based on three services: App to Cash, App to Prepaid Card and App to Bank account.
Yalla Xash is currently operating on the North America – Morocco corridor, and intends to develop other corridors in the coming months. Making a money transfer a unique and completely renewed experience is the credo of Yalla Xash.
This is the fourth investment of Maroc Numeric Fund II and the 21st investment of its management team, taking into account the investments made by Maroc Numeric Fund I, which is now in the divestment phase.
“We were impressed by the quality of Yalla Xash’s service, its proximity to its customers, as well as by the perspectives offered by this fintech which has been able to establish a reputation in a very short time in a global market of remittances estimated at more than US$700 billion per year,” Mrs Dounia Boumehdi, Managing Director of MITC Capital, the management company of Maroc Numeric Fund II, said.
“Moreover, this solution has a significant societal impact as it allows this population of residents abroad to keep a connection with their loved ones and accompany them in their life projects, with a limited cost and an increased speed of transfer.”
More than just a financial lever, Maroc Numeric Fund is a real catalyst for high-potential startups. It acts as an active shareholder by providing its portfolio companies with advice and monitoring of their management, in addition to the investment, while sitting on their boards.