Morocco-based Damanesign, which provides companies with digital trust solutions such as electronic signatures, seals, and timestamps, has raised US$450,000 from the Maroc Numeric Fund II to hone its products and develop its operations.
Founded in 2021 by Zouhair Hamdaoui, Damanesign allows users to sign and have documents signed in total security while guaranteeing their probative value. The startup also offers advanced management of signature transactions.
It has now raised MAD4 million (US$450,000) in funding in a round led by MITC Capital’s Maroc Numeric Fund II, making it the fifth investment of the fund and the 22nd of the management team of MITC.
Damanesign plans to use the investment to further develop its digital products and expand its operations.
“The recent adoption of Law 43-20 on digital trust opens the way to widespread and more accessible use of various services, including electronic signature. The COVID-19 crisis has demonstrated the importance for companies, public administrations, and individuals to have end-to-end dematerialised processes, allowing to fluidify transactions of any nature,” said Dounia Boumehdi, managing director of MITC Capital.
“Our investment is part of this approach to democratising digital trust services by enabling companies of all sizes to take full advantage of the services and ergonomics of Damanesign.”