Moroccan fintech startup Talaty secures seed funding to enhance AI-driven platform

Moroccan fintech startup Talaty has recently secured seed funding from prominent investors including Witamax, Renew Capital, and various angel investors, although the exact amount has not been disclosed. This funding will allow Talaty to enhance its AI-driven platform that aims to reform financial processes for small and medium-sized businesses (SMBs) in the region.

Recognised for its innovative approach, Talaty leverages advanced artificial intelligence technologies such as computer vision and text analysis to streamline traditional financial operations. The platform is designed to improve access to working capital for SMBs, a segment that often faces challenges in securing financing. Soulaimane Lahrech, CEO of Talaty, highlighted the significance of this issue, stating, “Securing financing is a significant hurdle for SMBs, with 40% of bankruptcies stemming from payment defaults. Our AI-driven platform streamlines the process, enabling our partners to deliver timely and effective financial support to these businesses.”

Witamax, which operates as Morocco’s first privately-backed venture capital fund, is taking a proactive role in supporting startups that address key societal and economic challenges. Hiba Mrani-Alaoui, Co-founder and Managing Partner of Witamax, expressed enthusiasm for the investment, noting, “Talaty’s founders embody the bold, innovative mindset we champion. Their AI solution addresses a massive market need, unlocking potential for millions of SMEs across Africa. We are thrilled to be part of their journey.”

With the backing of Witamax and Renew Capital, Talaty is poised to expand its operations into Francophone Africa. The company aims to advance financial inclusivity in this region by providing AI-driven credit solutions that cater specifically to the needs of SMBs. The anticipated impact of this expansion aligns with global trends in fintech, particularly as businesses increasingly utilise AI technology to enhance financial accessibility, streamline operations, and reduce costs.

As the landscape of business financing evolves, Talaty’s focus on developing technologies that cut default rates and lower operational expenses by up to 90% positions it as a key player in the ongoing transformation of financial services for small and medium businesses in Africa. The company’s commitment to using AI and behavioural finance insights is expected to facilitate quicker, more reliable credit decisions and foster a supportive environment for SMBs.

Source: Noah Wire Services