Dec 13, 2024

Z, an innovative B2B marketplace that is revolutionizing the traditional retail ecosystem in Africa, has closed a seed funding round of $1.5 million. The round, which is led by Morocco-based venture capitalists MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures, supports Z’s objective to modernize Morocco’s conservative retail industry. Through the integration of innovation and technology throughout the value chain, Z is transforming the retail industry. By giving traditional brands and retailers direct access to customers, its scalable platform is reviving competition in traditional trade (hanouts), which make up 85% of the FMCG market. The Morocco Competition Council’s regulatory approval is still pending. Filling a Serious Deficit in Conventional RetailFragmented supply chains, inefficiencies, and increasing competition from contemporary retail formats and discount stores are some of the major issues facing Africa’s traditional retail industry, which has more than 2.5 million small, independent stores. With an estimated $25 billion in the FMCG market in Morocco, Z is filling the gap by providing a digital platform that links consumers with distributors, brands, and retailers while encouraging accessibility and innovation. Building on a Solid StartSince its 2022 launch, Z has gained a lot of traction: Approximately 85% of the Greater Casablanca’s addressable market is represented by the more than 15,000 active retailers; Over 800,000 orders were placed with rated orders receiving a 95% positive rating. “Our platform is not just about transactions; it’s about transforming lives and creating opportunities for local retailers,” said Meriem Benabad, Founder & COO. “This funding enables us to expand our vision and accelerate our impact.” Z’s leadership group blends a love of innovation with a wealth of experience: The founder and COO, Meriem Benabad, has worked in FMCG for more than ten years at Silent Believers Distribution and P&G. Meriem, a Harambeans member who attended Stanford Graduate School of Business for executive education, established one of Morocco’s top B2B e-commerce platforms. Founder and CEO Samer Choumar is a Columbia Business School alumnus and former BCG consultant. In the past, he co-founded one of Saudi Arabia’s top tech-enabled hospitality startups. Co-founder and CTO Youssef Ait-Haddouch propels Z’s technological strategy and innovation with his extensive experience in fintech, cloud computing, mobile payment systems, and artificial intelligence. Proceeds from the $1.5 million round will support Z’s technology development, product catalog expansion, and preparation for its next growth phase. “This funding marks a pivotal moment for Z as we aim to scale operations and bring cutting-edge solutions to traditional retail,” said Samer Choumar, Founder & CEO. “Our vision is to empower small businesses and unlock growth across Morocco and Africa.” This funding round underscores the vital role of women in driving change. Meriem Benabad leads Z’s growth, while investors such as Dounia Boumehdi (MNF Ventures), Hiba Mrani Alaoui (Witamax), Salma Benaddou Idrissi, and Ghita Zniber (Kalys Ventures) have been pivotal. “Z is not only reshaping Morocco’s FMCG landscape with a strong ambition and vision but is also showing huge commitment with their initial traction,” said Hiba Mrani Alaoui from Witamax. Dounia Boumehdi from MNF Ventures added, “We’re excited to support Z’s innovative approach and look forward to its continued growth and momentum.”. “Z impresses with its operational efficiency and strong expertise, bringing valuable innovation to Morocco’s FMCG ecosystem”, concluded Ghita Zniber from Kalys Ventures.