Moroccan company Aza Petrosolutions receives funding for distribution processes in the oil sector through technology

Aza Petrosolutions (formerly Aza called Petroleum) has just announced that it has received a fundraising from Maroc Numeric Fund II, an investment fund of reference in Morocco. The fund has granted the Moroccan company three million dirhams, which will allow it to continue developing projects for the Moroccan economy. This firm is mainly dedicated to promoting technological solutions adapted to the oil distribution sector. 

"We are pleased to support Aza Petrosolutions in its development. We were attracted by the quality and complementarity of their teams, as well as the innovations they have developed, which meet the real needs of digitisation in the oil distribution sector," says Dounia Boumehdi, CEO of MITC Capital, the partner company of Maroc Numeric Fund II and its main manager. 

This is the sixth investment that the Moroccan fund has made to date. With this money, Aza Petrosolutions will be able to continue financing its projects. This company has a fully automated system that makes petrol refuelling and distribution operations, through technology, faster and more effective for users. It has also been the main driving force behind users being able to pay with their mobile phones at diesel refuelling stations.

Thanks to the company's innovation, customers enjoy solutions that have improved the quality of service. In this way, users are moving away from traditional payment methods and are fully introduced to a much more up-to-date system.

Aza Petrosolutions is a Moroccan company based in Morocco and founded by Zakaria Azemzi, Fatima Ezahra and Abdelaziz Elaiachi. The firm is a startup that specialises in the design of technological solutions. It is also in charge of the creation of smart objects, mainly related to the oil industry and its distribution.

For its part, Maroc Numeric Fund II has been Morocco's largest investment fund in the technology startup industry since 2010. This institution has extensive experience in financing and thanks to the management of a professional team, several companies in the Kingdom have achieved commercial success. In addition, the organisation always targets firms that have great economic potential and this is demonstrated by its achievements over the years. In addition to financing them, it also acts as an active shareholder, providing such services as financial advice and monitoring.

Recently, the organisation also made its fifth investment with Damanesign. This startup dedicated to providing customers with electronic signatures, electronic seals and all these types of processes that facilitate contracting procedures, has received four million dirhams. In this way, the company makes it possible to sign documents online, providing the customer with security.

"The COVID-19 crisis has shown how important it is for companies, public administrations and individuals to have a dematerialised end-to-end process that allows transactions of all kinds to run smoothly. Our investment is part of this approach to democratising digital trust services, enabling companies of all sizes to take full advantage of Damanesign's services and ergonomics," says Boumehdi.

The fourth investment was made with Yalla Xash, a Fintech company that handles money transfers between North American countries and Africa. The fund has granted this company six million dirhams to further promote technology in this sector. The firm bases its entire system on a multimedia mobile application, on all platforms such as the Apple App Store or Google PlayStore, and uses a chain avoidance with several layers of intermediaries to manage transfers.

"The technological and logistical solution developed by Yalla Xash aims to facilitate transfer operations, increase their speed, guarantee confidentiality, ensure security and reduce costs," said the director of MITC Capital.