Transforming the Retail Landscape in Morocco
z.systems, a groundbreaking B2B2C marketplace based in Morocco, has successfully secured $1.65 million in a Seed funding round, led by Azur Innovation Management. This latest investment elevates the total capital raised by the company to an impressive $2.7 million, reinforcing its position in a retail market valued at approximately $40 billion that remains significantly undigitized. The Seed funding follows an earlier Pre-Seed round of $1.05 million, which was supported by notable investors including MNF Ventures, Witamax, CASHPLUS Ventures, and Kalys Ventures. With the latest round, both MNF Ventures and Witamax have continued their support, while the Harambeans Prosperity Fund joins as the company's first international institutional investor.
The mission of z.systems is to create a unified platform that connects brands, wholesalers, and retailers, thereby enhancing the overall efficiency and transparency of supply chain operations. By integrating various stakeholders, the platform aims to streamline the flow of goods and information, which is crucial for modern retailing. The freshly acquired capital is earmarked for further development of this innovative platform, which is set to transform how businesses interact within the retail ecosystem.
Support and Vision for the Future
The startup has garnered additional backing from the European Bank for Reconstruction and Development through its Star Venture program, alongside crucial infrastructure support from Amazon Web Services. Founded in 2021 by a dynamic team consisting of Samer Choumar, Meriem Benabad, Youssef A Haddouch, Reda Nebri, and Youssef Drafate, z.systems is on a mission to expand its network, which currently encompasses nearly 20,000 stores. As the company continues to innovate and grow, it seeks to not only enhance the retail landscape in Morocco but also to set a precedent for digitization in the region's retail sector.
As reported by cairoscene.com.
