Fmake the day-to-day management of a business easier while providing it with access to funding in a smooth and simple way. This is the bet of startup Hsabati.com, based in Technopark Casablanca and which has managed to raise Dh6 million from CDG Invest and UM6P Fund since its launch in 2019.
“Our cloud-based solution includes invoicing, CRM, inventory management and production modules designed to digitize business management in an optimal and modular way with direct links to the banking sector for access to financing.”– Saad Kemmu, founder of Hsabati.com explains immediately.
In addition to its administration and treasury management offerings, the 15-person fintech company is innovating by allowing companies listed on its platform to benefit from factoring services through a partnership with two local banks.
In particular, Hsabati has developed an evaluation algorithm that allows it to examine a company’s eligibility to benefit from the service of purchasing accounts worth Dh5,000 from partner banks at a rate that varies from 2.5 to 5%.
“Our goal in 2024 is to manage a factoring portfolio of Dh200 million and at the same time implement a BNPL (buy now, pay later) offer.”– adds Saad Kemmu, winner of the LeBow College of Business at Drexel University in Philadelphia.
It is an alternative method of financing for companies that have traditionally experienced cash flow difficulties, particularly due to a lack of easy solutions to finance their working capital needs (WCR), as well as payment terms that sometimes exceed 120 days. Moreover, in Morocco, private intercompany credit exceeded the threshold of 400 billion dirhams.
“Our BNPL offering, which is currently being finalized with partner banks, will allow our platform member companies to access this innovative financing mechanism at annual rates that range from 5 to 12% and payment terms of up to 120 days.”– promises the founder of this promising fintech company.
It should be noted that since its launch in 2019, the startup, whose subscription per user to its platform starts from Dh149, expects to grow steadily and reach 20,000 new customers by 2025.