MOROCCO – Morocco-based startup Aza Petrolsolutions, has raised MAD 3 million (US$296,000) in a fresh funding round from the Maroc Numeric Fund II.

Aza Petrosolutions (formerly known as AZA Petroleum) is a Moroccan firm based in Agadir that was created in 2020 by Zakaria Azemzi, Fatima Ezzahra Azemzi, and Abdelaziz Elaiachi.

AZA Petrosolutions is a startup that specialises in the design of technology solutions as well as the development of smart and connected items for the oil distribution industry.

The startup’s solutions provide its clients with a full monitoring solution, allowing them to eliminate old methods of reconciliation, as well as an automated system for managing refuelling and distribution operations and the introduction of mobile payment at service stations.

This is Maroc Numeric Fund II’s sixth investment and the management team’s 23rd investment, taking into consideration the investments made by Maroc Numeric Fund I, which is currently in the divestment phase.

“We are delighted to assist Aza Petrosolutions in its growth. We were drawn in by the team’s quality and complementarity, as well as the ideas they have developed to solve actual digitalization needs in the oil distribution business,” Dounia Boumehdi, Managing Director of MITC Capital, the fund’s manager, said.

Since 2010, Maroc Numeric Fund has been the go-to investment fund for technological businesses. The management team’s competence has permitted the birth of various Moroccan success stories.

Maroc Numeric Fund is more than just a financial tool; it is a true catalyst for high-potential entrepreneurs. In addition to investment, it serves as an active shareholder by advising and monitoring its portfolio businesses’ management and sitting on their corporate boards.

This is the 6th investment of Maroc Numeric Fund II and the 23nd investment of its management team, taking into account the investments made by Maroc Numeric Fund I, which is now in the divestment phase.

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