Renew Capital and Witamax have invested in Talaty to extend AI-powered financing solutions across Morocco and in extension, French-speaking nations in Africa.
The statement, released by Renew Capital on Thursday, noted that the investment will help Talaty to increase financial inclusion for Small and Medium-sized Businesses (SMBs) throughout the region by expanding its operations, scaling its platform, and introducing its cutting-edge AI-driven lending solutions.
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Talaty, a Moroccan fintech company is revolutionising funding for SMBs with its cutting-edge AI-powered solutions. For healthy SMBs looking for operating cash, this cutting-edge technology improves access and efficiency by streamlining conventional banking procedures.
Talaty establishes a new standard in fintech by incorporating state-of-the-art AI, giving financial institutions the resources they require to prosper in a cutthroat industry.
Renew Capital and Talaty’s reaction to the development
“Securing financing is a significant hurdle for SMBs with many bankruptcies among these businesses stemming from payment defaults,” stated Soulaimane Lahrech, CEO of Talaty.
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He continued, “Our AI-driven platform streamlines the process, enabling our partners to deliver timely and effective financial support to these businesses.”
“Talaty is providing a much-needed solution to Morocco’s financial institutions regarding SMB financing challenges,” said Nihal GRII, investment ecosystem development manager at Renew Capital.
“This initiative represents a genuine stride toward financial inclusion, as it equips institutions with the necessary tools to broaden the scope of SMBs they can serve, enhancing access to essential financial services for a larger segment of the business community,” he added.