Morocco-based last-mile delivery startup Cathedis has raised $713,000 from Fond Capital Venture (FCV), the VC fund of BMCE Capital Investments, and Beltone Venture Capital aimed at leveraging new resources, enhancing its infrastructure and capacity to meet the demands of an expanding market, both at home and abroad.
Founded in 2015 by Imad Mansour Zekri, Cathedis provides e-commerce platforms and online retailers with various last-mile delivery services. The company offers real-time order tracking, cash-on-delivery payment processing, and returns and exchanges management. Supported by the 212Founders program of CDG Invest and Afri Mobility—venture capital subsidiaries of the AKWA Group—Cathedis has set its sights on solidifying its Moroccan presence while accelerating its international ambitions.
According to the company, this new partnership with BMCE Capital Investments aligns with the fund’s mission to fuel Moroccan startups with high growth potential.
By backing promising companies like Cathedis, BMCE Capital aims to cultivate medium-to-long-term success stories that resonate internationally, fostering Morocco’s position as a competitive player in the global startup scene.
Joining a robust lineup of investors that includes CDG Invest, Afri Mobility, and Beltone Venture Capital, BMCE Capital is doubling down on its commitment to the vibrant Moroccan entrepreneurial landscape.
The projected revenue in the Platform Delivery market in Morocco is expected to reach US$69.27m in 2024.This is projected to show an annual growth rate (CAGR 2024-2029) of 5.50%, resulting in a market volume of US$90.53m by 2029.The number of users is expected to amount to 2.4m users by 2029 while the user penetration is expected to increase to 5.9% by 2029.
This funding follows a USD 735,000 investment in early 2023, which included funding from Afrimobility, the venture capital branch of AKWA Group, and a bridge investment of USD 243,000 from CDG Invest.
The latest funding round includes USD 483,000 from BMCE’s venture capital fund (FCV) and an additional USD 193,000 from Beltone Venture Capital.