Morocco's CASH PLUS Receives $60m Investment for Expansion

Published 8 months ago

Morocco’s financial services provider, CASH PLUS, has secured a significant €57 million ($60M) investment from private equity firm, Mediterrania Capital Partners. This funding was announced by Nabil Amar, Chairman of the Board of Directors of the CASH PLUS Group.

A Collaborative Investment

The investment was made in conjunction with FMO, the entrepreneurial development bank from the Netherlands, and IFC, a member of the World Bank Group. CASH PLUS maintains an extensive network with over 3,600 physical locations across Morocco, making it one of the nation’s largest financial service providers.

Fueling Growth and Expansion

This substantial equity investment is expected to drive CASH PLUS’s growth further, enabling the company to expand its branch network both nationally and internationally. Moreover, the funding will likely enhance the company’s digital financial services, focusing particularly on its M-Wallet application that currently serves more than 1 million customers.

Adding Value for Customers

Mediterrania Capital Partners expressed their excitement about supporting CASH PLUS in its ambitious growth strategy. Hatim Ben Ahmed, Managing Partner at Mediterrania Capital, highlighted that CASH PLUS is among the fastest-growing financial institutions in the continent, and their investment will aid in creating more value for customers and stakeholders.

Albert Alsina, Founder and CEO at Mediterrania Capital Partners, also expressed delight at being part of this project with their long-time partners, IFC and FMO. He reaffirmed their faith in CASH PLUS, stating that the company embodies their mission of improving people’s lives through responsible investments.