Moroccan e-signature Platform Damanesign raises $450k

Morocco-based e-signature platform Damanesign has announced it raised $450k from the Maroc Numeric Fund II to expand its operations.

Damanesign was founded in 2021 by Zouhair Hamdaoui to provide companies with digital trust solutions such as electronic signatures, seals, and timestamps, offering advanced management of signature transactions.

Dounia Boumehdi, managing director of MITC Capital speaking on the investment said that the COVID-19 crisis the importance of dematerialized processes in official dealings.

“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 dematerialized processes, allowing to fluidify transactions of any nature.

“Our investment is part of this approach to democratizing digital trust services by enabling companies of all sizes to take full advantage of the services and ergonomics of Damanesign,” said Dounia.

Damanesign plans to use the investment to further develop its digital products and expand its operations.