Morocco’s Guichet.com secures US$309,000 funding for expansion

MOROCCO – Morocco-based digital ticketing platform Guichet.com, has received US$309,000 (MAD3 million) equity financing from the 212 Founders program via CDG Invest.

Guichet platform provides partners with an autonomous administration and control environment that includes real-time ticketing monitoring.

The new investment is coming after the resumption of events, cultural, and sporting activities, following the Covid-19 pandemic.

The startup plans to use the funds to reinforce its market leadership in Morocco and accomplish its strategic objectives, beginning with the strengthening of its offer to sports athletes and the conquest of high-potential African markets.

Launched in 2019, Guichet.com is the benchmark platform in online movies and theater ticket booking, with over 12 million users.

The platform now boasts tens of thousands of users and has hosted over 1,000 events and shows in partnership with numerous exclusive partners.

The financing in form of equity has been provided by 212 Founders, a support program for Moroccan start-ups, with the aim of stimulating the creation and growth of Moroccan start-ups.

I am proud of the trust granted by the 212 Founders teams and of having participated in a program that has seen the birth of international nuggets in the field of tech,” said Ahmed Tawfik Moulnakhla, Founder and CEO of Guichet.com.

“Beyond financing, it is a partnership relationship that will enable Guichet.com to strengthen its position and calmly address its new challenges beyond the borders of the Kingdom.”

The early-stage support program offers start-ups seed (initial) investment and investment over their first round of fundraising (Series A).

Since its creation, the program has invested MAD 54 million (US$5.5 million) in Morocco’s startup ecosystem.

CDG invest  MoU with Bank Al-Maghrib (BAM)

Meanwhile, last month CDG Invest inked a deal with Morocco’s central bank, Bank Al-Maghrib (BAM) aiming to boost Morocco’s Fintech startup ecosystem.

The two parties pledged to support start-ups through direct funding and providing necessary know-how through the  212 Founders program.

Under the agreement, BAM commits to offering Fintech start-ups the necessary guidance and financial support as part of the CDG Invest program.

BAM has equally committed to mediating between fintech start-ups and banks, supporting start-ups in securing growth-dependent funds.

 Acting as an incubator, CDG has pledged to offer guidance for Fintech start-ups from the early stages of developing the product to commercializing the product in the market.

The agreement also touches on the issue of sharing expertise and know-how between the two institutions, enabling the two institutions to effectively support start-ups and support them to overcome challenges.

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