First startup transfer for 212 Founders

Through the Moroccan Seed and Series A startup support and financing program that we have been accompanying since 2019, the startup Kifal Auto announced to join the Nigerian operator Autochek Africa.

After two years of strategic support and a Seed investment of up to 3 million dirhams in equity, the 212 Founders program gives new development perspectives to the startup Kifal Auto. The 212 Founders teams helped the startup Kifal Auto to identify the right strategic partner to consolidate its leadership position in Morocco and ensure its international growth. In this context, the Nigerian operator Autochek Africa acquires the entire capital of Kifal Auto.

This acquisition is also an opportunity to accelerate the development of Kifal Auto within a larger group, present in 5 countries of the continent and aiming to become the first pan-African player in the intermediation of the used car market.

Congratulations to Nizar ABDALLAOUI MAANE, its founder !

Access the Press Release here: https://lnkd.in/eSc3q6nf