Morocco-based startup Aza Petrolsolutions has raised MAD 3 million ($296,000) in a fresh funding round from the Maroc Numeric Fund II.
Founded in 2020 by Zakaria Azemzi, Fatima Ezzahra Azemzi and Abdelaziz Elaiachi, Aza develops tech-based solutions tailored to the oil distribution industry.
The solutions developed by AZA Petrosolutions gives its clients a full monitoring solution, allowing them to eliminate the traditional methods of reconciliation, and incorporate an automated system for managing refueling and distribution operations as well as the introduction of mobile payment at service stations. This is the 6th investment of Maroc Numeric Fund II and the 23rd investment of its management team, taking into account the investments made by Maroc Numeric Fund I, which is now in the divestment phase.
Mrs. Dounia Boumehdi, Managing Director of MITC Capital, the management company of Maroc Numeric Fund II, said: “We are happy to support Aza Petrosolutions in its development. We were seduced by the quality and complementarity of its teams, and by the innovations, they have developed which meets real digitalization needs in the oil distribution industry.”
Since 2010, the Maroc Numeric Fund has been the reference investment fund in technology startups. The expertise accumulated by its management team has enabled the emergence of several Moroccan success stories. More than just a financial lever, Maroc Numeric Fund is a real catalyst for high-potential startups. It acts as an active shareholder by providing its portfolio companies with advice and monitoring of their management, in addition to investment, while sitting on their corporate bodies.
