- July 6, 2021
- Category: Investment, MNF II
Damanesign announces a fundraising of MAD 4 million from Maroc Numeric Fund II.
Founded by Zouhair Hamdaoui, Damanesign is a startup that provides digital trust solutions: electronic signature, electronic seal, time stamping, etc. It allows companies of all sizes and all sectors to digitalize their contracting processes.
The solution developed by Damanesign allows 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 organizations (users and workflows).
Since the adoption of Law 43-20 on digital trust in December 2020, Morocco now has a more flexible but advanced legal framework, allowing the widespread use of electronic signature, electronic seal, time-stamping and electronic certification services.
This is the 5th investment of Maroc Numeric Fund II and the 22nd investment of its management team, taking into account the investments made by Maroc Numeric Fund I, which is now in the disinvestment phase.
Mrs. Dounia Boumehdi, Managing Director of MITC Capital, the management company of Maroc Numeric Fund II, said: “The recent adoption of Law 43-20 on digital trust, opens the way to a widespread and more accessible use of various services, including electronic signature. The Covid-19 crisis has demonstrated the importance for companies, public administrations and individuals to have end-to-end dematerialized process, allowing to fluidify transactions of any nature. Our investment is part of this approach to democratize digital trust services by enabling companies of all sizes to take full advantage of the services and ergonomics of Damanesign.”
Maroc Numeric Fund is since 2010, the reference investment fund in technology startups. The expertise accumulated by its management team has enabled the emergence of several Moroccan success stories. 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 investment, while sitting on their corporate bodies.
Advisors for this operation :
- Legal counsel: Dentons Sayarh & Menjra Morocco
- Certified Public Accountant: Cagex Group, represented by Mr. Yassine Benhammou.
Damanesign is a Moroccan startup founded in 2021, with the mission to become the first independent player specialized in digital trust in Morocco. Its “electronic signature” product enables companies to fully digitalize their process with a legally recognized solution.
About Maroc Numeric Fund II
Maroc Numeric Fund II (MNF II) is an institutional fund dedicated to financing Moroccan technology startups with high growth potential. It was created as part of the Innov Invest program launched by the Caisse Centrale de Garantie (CCG), and its shareholders include CCG, Attijariwafa Bank, Chaabi Capital Investissement, BMCE Bank of Africa and MITC, the Technopark’s managing company.
MNF II is the successor to the MNF fund launched in 2010 and reaching the end of its investment period in 2016, which had made 17 investments in Moroccan technology startups in various fields.
Maroc Numeric Fund II is a limited company under Moroccan law, whose head office is located in Technopark Casablanca.