Damanesign, a Moroccan company that provides digital trust solutions such as electronic signatures, seals, and timestamps, has raised $450,000 from the Maroc Numeric Fund II to improve its products and expand its operations.
Founded in 2021 by Zouhair Hamdaoui, Damanesign allows users to sign and have documents signed in total security while guaranteeing their probative value. The startup also offers advanced management of signature transactions.
It has now raised MAD4 million (US$450,000) in a round led by MITC Capital’s Maroc Numeric Fund II, making it the fund’s fifth investment and the management team’s 22nd.
Damanesign intends to use the funds to expand its operations and further enhance its digital products.
“The recent adoption of Law 43-20 on digital trust opens the way to 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 processes, allowing to fluidify transactions of any nature,” said Dounia Boumehdi, managing director of MITC Capital.
“Our investment is part of this approach to democratizing digital trust services by enabling companies of all sizes to take full advantage of the services and ergonomics of Damanesign.”