Cash Plus VC Fund is Investing in SLE3TI, a Moroccan B2B Marketplace

Cash Plus VC Fund is Investing in SLE3TI, a Moroccan B2B Marketplace

By Staff Writer, 29 August 2023

Cash Plus, a major player in the Moroccan financial services industry, has recently revealed its investment through its investment structure Cash Plus VC in the startup SLE3TI.

SLE3TI, a distributor of common consumer goods for nearby supermarkets, has recently merged into Cash Plus' cutting-edge ecosystem. Founded in 2020 by businessman Ayoub Harij, SLE3TI unites more than 10,000 active grocery businesses on its mobile network, most of which are based in Casablanca.

This strategic stake acquisition is a key step in Cash Plus's plan to diversify and extend its operations in the rapidly changing market for the distribution of daily consumer goods. SLE3TI has distinguished itself by providing a technological platform that streamlines interactions between providers of common consumer goods and nearby grocery stores.

Thanks to its tailored interface and functionalities catering specifically to the demands of the local market, the SLE3TI app has effectively streamlined the procurement process, enhanced inventory optimization, and bolstered connections among key stakeholders within the supply chain.

"We are delighted to join the Cash Plus family. Their expertise in financial services and their commitment to innovation are in perfect synergy with our mission to improve the operational efficiency of local grocery stores. Together, we will offer high value-added services, including money transfer and bill payment, to our thousands of daily users," said Ayoub Harij, founder of the start-up.

Nabil Amar, the manager of the Cash Plus VC fund, specified that "The integration of SLE3TI into the Cash Plus VC ecosystem demonstrates our continued commitment to supporting innovative startups. This promising collaboration will strengthen our position as pioneers of innovation in financial services and allow us to bring significant added value to our customers by further simplifying their operations."

This acquisition marks a promising and pivotal juncture in Morocco's commercial landscape. It underscores the significance of collaboration between well-established enterprises and burgeoning startups to foster innovation and stimulate economic growth. With the integration of SLE3TI into its portfolio, alongside prior investments in Tawssil, a startup specializing in last-mile delivery, and Weego, an urban mobility startup, Cash Plus is shaping a future for consumer goods distribution in Morocco that appears even more vibrant and dynamic.

It's worth noting that Cash Plus recently introduced the Tawssil distribution service at B2C relay points for e-commerce merchants, enabling the sending of mail and packages among individuals across Morocco and internationally. This initiative aims to compete not only with Barid Al Maghrib's Al Amana service, which currently holds a dominant position in the sector, but also with other players in the field and those focused on the last kilometer segment.

Source: DayFR Euro

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