Morocco-based OnePay secures $417,000 funding round

Moroccan FinTech company OnePay has reportedly bagged $417,000 in funding from MITC Capital Maroc Numeric Fund II, which is targeting startups in Morocco.

The startup is using the capital to invest into its technical, marketing and commercial development to help it increase its customer base, according to an article from Disrupt Africa.

OnePay is a software platform that helps businesses to safely pay their bills online. The FinTech acts as a distributor for payments and aggregator of payments online, the article claims.

Since 2015, a total of $1.1bn has been invested into the African FinTech sector, FinTech Global data shows. The largest portion of this capital has been deployed to the payments and remittances sector, which represents 60.9% of funding.

The largest investment to happen in Africa was the $326m Series C round of e-commerce company Jumia Group.

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