Premium Technology & Services PTS, a Moroccan fintech offering advanced tools for digitising traditional banking cards, has raised $500,000 in investment from BMCE Capital Investments for an undisclosed stake in the company.
BMCE Capital Investments is the private equity arm of BMCE Capital Group. The investment, through the group’s Capital Venture Fund, is contingent on approval from Morocco’s Competition Council. The deal involves an injection of USD 497,900 (5 million dirhams) to fuel the company’s local and international expansion.
PTS was founded in 2020 by three experienced entrepreneurs and operates in a rapidly growing digital payments market. The sector is seeing a surge, driven by a tech-savvy, young population and the increasing popularity of e-commerce. Mastercard website reports that this market growth is aligned with global digital transformation trends.
According to Statista, the value of digital transactions in Morocco is expected to reach USD 6.53 billion by the end of 2024. The projection for digital transactions will increase to USD 8.468 billion by 2028.
PTS is also positioned to capitalize on this growth, offering innovative tools that digitize traditional banking cards. It is catering to the evolving needs of financial institutions and businesses.
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Strategic Partnerships for PTS and Future Expansion
Tribe Techie learnt that PTS has already formed partnerships with key Moroccan banks, including the Bank of Africa, affirming the reliability of its solutions.
With new financial backing from BMCE Capital Investments, PTS aims to strengthen its market position. Additionally, it seeks to accelerate its journey in Morocco’s digital payment sector and explore international opportunities.
The funds will allow PTS to scale its operations and continue innovating in response to the increasing demand for digital payment solutions.
The investment reflects confidence in the startup’s potential to drive the future of fintech in Morocco and beyond.
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