Mediterrania Capital Partners has confirmed the partial divestment of its stake in Cash Plus, a leading money transfer and financial services provider in Morocco, through an initial public offering (IPO) on the Casablanca Stock Exchange. This strategic move underscores Mediterrania’s commitment to supporting high-growth businesses while delivering value to its investors.
Founded with a mission to drive financial inclusion, Cash Plus has evolved into one of Africa’s largest fintech platforms, offering a wide range of services that empower individuals and businesses across the region. The IPO represents a significant milestone in the company’s growth trajectory and positions it for continued expansion.
The IPO, which closed on November 25, was driven by both the strategic repositioning of long-term shareholders and the company’s ambition to accelerate growth across digital and physical channels.
The offering raised a total of USD 82.5 million, comprising USD 44 million in new capital earmarked for scaling Cash Plus’ operations. The company plans to deploy these funds to expand its nationwide footprint, strengthen its agent network, and advance its digital ecosystem, with a focus on payments, mobile wallets, and app-based services.
At the core of the IPO was a two-part structure designed to balance growth financing with shareholder liquidity. Of the total proceeds, USD 44 million represented a capital increase for Cash Plus, enabling accelerated investment in its agency network and digital infrastructure. The remaining USD 38.5 million came from the sale of existing shares by Mediterrania Capital Partners (MCP), which leveraged the transaction to execute a partial exit from its position.
Commenting on the development, Albert Alsina, Founder and CEO of Mediterrania Capital Partners, stated:
Over the last few years, Cash Plus has become one of the largest fintech platforms in Africa, with a clear financial inclusion strategy. Its transformation is a testament to strong leadership and disciplined execution driven by its president and CEO, Nabil Amar, and its board.
Adding further perspective, Hatim Ben Ahmed, Managing Partner at Mediterrania, said:
Two years after our investment, we are proud to have contributed to the development of a true fintech champion. This partial exit aligns with our broader strategy and fully supports Cash Plus’ ambitions for continued product development and expanded geographic reach.
