Witamax & Renew Capital invest in Talaty to expand AI-driven financing solutions across Morocco and Francophone Africa.
Rabat, Morocco, (12/18/2024) – Talaty, a Moroccan fintech, is redefining financing for small and medium-sized businesses (SMBs) with its innovative AI-driven solutions. Talaty has successfully secured an undisclosed amount in its seed funding round. The round saw contributions from Witamax through its Funds II and III, Renew Capital, and early angel investors, all known for their support of innovation and impact-driven growth in Africa
Talaty, leverages advanced AI techniques, such as computer vision, text analysis, and behavioral finance AI agents to streamline traditional financial processes, dramatically enhancing access and efficiency for healthy SMBs seeking working capital. By integrating cutting-edge AI, Talaty sets a new benchmark in fintech, empowering financial institutions with the tools they need to thrive in a competitive marketplace.
Talaty’s platform offers instant lending solutions to financial institutions aiming to serve a complex segment of small and medium businesses that are typically underserved. By cutting default rates and reducing operational costs by 90%, Talaty combines advanced AI with behavioral finance insights to help lenders make credit access faster, more reliable, and inclusive.
“Securing financing is a significant hurdle for SMBs, with 40% of bankruptcies among these businesses stemming from payment defaults,” stated Soulaimane Lahrech, CEO of Talaty. “Our AI-driven platform streamlines the process, enabling our partners to deliver timely and effective financial support to these businesses.”
The funding marks another milestone for Witamax, Morocco’s first privately-backed VC fund. Through its Funds II and III, Witamax has doubled down on its commitment to empower startups tackling major societal and economic challenges in Morocco and Africa. Co-founder and Managing Partner, Hiba Mrani-Alaoui*, commented: “Talaty’s founders embody the bold, innovative mindset we champion at Witamax. Their AI solution addresses a massive market need, unlocking potential for millions of SMEs across Africa. We are thrilled to be part of their journey.” With Witamax & Renew Capital’s investment, Talaty plans to grow its activities, scale its platform and expand its innovative AI-driven credit solutions into Francophone Africa, advancing financial inclusion for SMBs across the region.
MEDIA CONTACT
Hiba Mrani-Alaoui
Email: hiba.mrani-alaoui@witamax.com
