CDG Invest funded Morocco’s leading online show booking platform, Guichet.com with a total of $309,000 enabling the startup to strengthen its market foothold in Morocco and follow through with its African expansion strategy.
CDG Invest is the investment branch of the CDG group. CDG Invest acts both as an investment manager for its own account following both financial and strategic logic, as well as as a fund manager for third parties.
Through its startup funding program 212 Founders, CDG Invest invested $309,000 in Guichet.com. Along with direct funding, the 212 Founders program incubated the startup and supported it in reaching its strategic goals. Since 2019, the 212 Founders program has facilitated 11 Seed and Series A financings totalling $5.4 million.
“We are honoured to be a part of Guichet.com’s ambitious development and expansion strategy. The startup has shown remarkable tenacity in the face of the health crisis, as well as an exceptional innovation in ensuring the continuation of its operations. Our goal with this finance is to assist Guichet.com in realizing its strategic aspirations in Africa and solidifying its leadership position in the Moroccan market,”
~ Youssef Mamou, Director of CDG Invest’s 212 Founders Program
Guiche.com was founded in 2019 by Moulnakhla Ahmed Tawfik to provide partners with the ability to sell and monitor ticketing in real-time. The platform’s performance demonstrates the market’s enormous potential in Morocco, and Guichet.com desires to take the risk of continuing efforts to digitize the industry.
The platform now boasts tens of thousands of users and has hosted over 1,000 events and shows in partnership with numerous exclusive partners, including Festival Mawazine, Festival de Marrakech du Rire, Festival de Fes des Musiques Sacrees du Monde, Oasis Festival, and numerous renowned sports teams.
“I am proud of the trust placed in me by the 212 Founders teams and of having participated in a program that has resulted in the birth of small international companies. This partnership relationship will enable Guichet.com to strengthen its position and face new challenges serenely beyond the Kingdom’s borders.”
~ Ahmed Tawfik Moulnakhla, Founder and CEO of Guichet.com
The latest fund acquisition through the 212 Founders program helped the platform to develop its strategic vision, validate its market leadership position in Morocco, and explore international expansion opportunities in the context of health care reform.