BUSINESS TECHNOLOGY MEDIA FOR AFRICA

Morocco start-up funding soars to $95m

By Phathisani Moyo, Senior contributor
Johannesburg, 30 Jun 2025
Yassine Laghzioui, , UM6P Ventures CEO, collaborated in compiling the report that provides a blueprint for Morocco’s growing tech ecosystem.
Yassine Laghzioui, , UM6P Ventures CEO, collaborated in compiling the report that provides a blueprint for Morocco’s growing tech ecosystem.

Morocco has made a powerful return to Africa’s venture capital landscape, nearly tripling its tech start-up funding to $94.96 million in the past financial year.

The latest Morocco Start-up Ecosystem Report, a groundbreaking collaboration between UM6P and Start-upResearcher, outlines a blueprint for the country’s growing tech ecosystem, positioning the country as a model for innovation-driven development across Africa.

The Report states that standout deals and accelerator support are driving Morocco’s early-stage booming startup ecosystem, securing its position as the continent’s sixth-largest destination for venture capital and 88th globally. 

However, it warns that beneath the headline figures, cracks remain that could stall long-term growth and threaten its status as North Africa’s rising tech star.

Yassine Laghzioui, UM6P Ventures CEO, one of the country’s leading VC backers, attributed the seed boom on a record $48 million Series A round for travel-tech firm Nuitée, along with key fintech and agri-tech deals that accounted for 65% of all capital raised, highlighting investor confidence in a few standout startups.

“This surge reflects Morocco’s untapped potential and its rising visibility on the continental tech map,” he said.

The 2024 Morocco Ecosystem Report further credited the strong seed-stage momentum to 40 deals largely supported by international accelerators like Y Combinator and 500 Global. 

Other analysts, however, cautioned that this early-stage energy is not translating into scalable growth. 

Domestic Series A and B cheques remain scarce, forcing scale-ups to look abroad for capital. The ecosystem has also logged only four significant exits in three years, limiting capital recycling and investor appetite.

“The risk is an early-stage trap, lots of promising startups with nowhere to go. “We need structural fixes or we’ll lose our best talent to tech hubs like Lagos, Nairobi, or Cairo,” warned a local investor affiliated with the 212 Founders programme

An analyst at Start-upResearcher stated that Casablanca remains Morocco’s dominant start-up hub, while female-led ventures continue to be underfunded despite high-calibre talent. 

The report urges activating the Mohammed VI Investment Fund to co-invest in later-stage rounds, alongside introducing gender-lens funds, M&A tax incentives, and a modern IPO framework.

“Morocco’s 2024 rebound is just the start. To build a unicorn, we need bold bets in AI, climate tech, and deep tech, areas where Morocco has a competitive advantage,” said the Start-up Researcher analyst.

Share