Woliz, a Moroccan-based Retail-Tech platform that connects nano stores to the digital economy, has announced the closing of a $2.2m pre-seed round with Sanlam Maroc, a subsidiary of Africa's leading insurer Sanlam.
This marks Sanlam Maroc’s first investment in a startup, through a long-term, institutional private equity approach.
Woliz said that the funding will support the acceleration of its technology and FinTech-enabled platform, designed to digitise and structure neighbourhood retail by placing merchants at the centre of a unified ecosystem connecting commerce, finance, telecoms, institutions, and consumers.
Sanlam said the investment is aimed at supporting the modernisation of local retail while widening financial inclusion. Small shops account for a large share of employment and consumption in Morocco, yet many still operate largely in cash and outside formal systems.