Morocco's VOVE ID secures fresh funds to support expansion ambitions
Morocco-based regtech VOVE ID has secured new investment from The Baobab Network for an undisclosed amount.
Founded in 2024 by Khalid Aoussar and two other founders, VOVE ID offers enetrprises identities verification tools.
The fresh capital will support VOVE ID's regional expansion, platform development, and team growth.
Moroccan regtech startup VOVE ID has secured new investment from The Baobab Network to accelerate its growth across Africa and the Middle East.
The funding (amount undisclosed) marks a key milestone for the high-end digital identity verification company, which launched earlier this year and has already gained rapid traction with its secure, AI-driven Know Your Customer (KYC) platform.
Founded in 2024 by Khalid Aoussar, Tarik, and Youssef—alumni of Timeless Investment GmbH, RemotPass, and Pipedrive respectively—VOVE ID is aiming to transform how businesses verify identities in the $18.6 billion global KYC market.
Its 'verify once, use everywhere' approach allows users to reuse a verified digital identity across multiple platforms, simplifying onboarding while maintaining regulatory compliance. The platform supports features such as biometric authentication and automated document checks, already attracting clients across the MENA and African regions.
The fresh capital will support VOVE ID's regional expansion, platform development, and team growth. As part of The Baobab Network's accelerator programme, VOVE ID will also gain strategic mentorship and access to a broader ecosystem to navigate regulatory challenges and scale faster.
VOVE ID's core mission is to democratise access to enterprise-grade KYC tools for startups and SMEs often priced out of traditional solutions. With modular integration, pay-as-you-go pricing, and a user-friendly interface, the startup enables even the smallest businesses to implement robust verification systems without compromising on quality or compliance.
'Having The Baobab Network on board is a game-changer,' said co-founder and CEO, Aoussar. 'We're building a future where verifying your identity is seamless, secure, and accessible—regardless of business size or geography.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Bawaba
a day ago
- Al Bawaba
Orange Maroc modernizes its network with Ericsson: a strategic partnership for next-generation connectivity
Orange Maroc has taken a major step forward in strengthening its network infrastructure by signing a strategic agreement with Ericsson (NASDAQ: ERIC) to modernize and expand its core network. This landmark partnership reflects Orange Morocco's commitment to delivering high-performance connectivity, in the lead-up to the launch of 5G, fully aligned with the National Strategy 'Digital Morocco 2030' this collaboration, Orange Maroc will integrate cutting-edge technologies, including Ericsson's dual-mode 5G Core and Cloud Native Infrastructure Solution, specifically designed to support cloud-native 5G applications. This modernization will significantly boost Orange Maroc's network capacity and enhance the customer experience, while allowing the company to build a scalable network architecture in anticipation of the 5G for greater connectivityThrough this strategic partnership, Orange Maroc will introduce the Ericsson Cloud Core Policy Controller, ensuring high scalability, better network resilience along with new business models. The telecommunications operator will also extend its network with additional IP Multimedia Subsystem (IMS) and Ericsson Packet Core sites to strengthen Voice over LTE (VoLTE) services and deliver reliable 4G and 5G services, such as the enhanced Mobile Broadband (eMBB), Fixed Wireless Access (FWA), video games, and industrial connectivity modernization also includes improvements to the automation and orchestration of the native cloud-based infrastructure, through strategic software upgrades to Ericsson Network Manager, Orchestrator, and Network IQ Statistics, tools already leveraged by Orange Maroc to monitor its network operations. Hendrik Kasteel, Chief Executive Officer of Orange Maroc, says, "Orange Maroc places innovation and customer satisfaction at the heart of its strategy. This partnership with Ericsson strengthens our commitment to delivering a more powerful and reliable network that meets the growing digital needs of Moroccans. By modernizing our infrastructure, we are accelerating our ability to deploy 5G and support Morocco's digital transformation, fully aligned with the vision of the national strategy 'Digital Morocco 2030.'Majda Lahlou Kassi, President of Ericsson Morocco and Vice President of Ericsson West and Southern Africa, says: "At Ericsson, the success of our customers is at the core of our mission. We are proud to support Orange Maroc in this major transformation, aiming to address fast-changing connectivity needs and provide a robust, scalable and sustainable infrastructure. This project reflects our constant commitment to creating value for our partners while contributing to Morocco's digital development." With more than 20 years of collaboration between Orange Maroc and Ericsson, this new project further strengthens Orange's position as a telecommunications operator committed to network excellence. By anticipating future connectivity needs and investing in cutting-edge infrastructure, Orange Maroc reaffirms its key role in supporting Morocco's economic and social growth through digital innovation.
Al Bawaba
3 days ago
- Al Bawaba
TECNO Continues the Partnership to Become Official Global Partner of Africa Cup of Nations (AFCON) 2025 and 2027, Fueling the Dream of Africans Through Football
Innovative AI-driven technology brand TECNO ( today announced that it is strengthening its already close relationship with the Confederation of African Football (CAF) by becoming the Official Global Partner of the TotalEnergies CAF Africa Cup of Nations, Morocco 2025 and TotalEnergies CAF Africa Cup of Nations, KE- UG - TA 2027, bringing its 'Stop at Nothing' spirit to the continent's fans for years to come. The announcement follows TECNO's successful sponsorship of the tournament in 2023 when it became exclusive smartphone sponsor for the role as Official Global Partner and Official Smartphone and Exclusive Partner in the Smartphone category enables the company to further extend its 'Stop at Nothing' brand promise by deepening its engagement and enhancing its visibility. The brand also benefits from additional media and social media activation rights that will enable it to better connect with young people, share the joy of football, and nurture a shared spirit of daring and Vice President of Transsion Holdings, Benjamin Jiang said: 'This renewed partnership is a testament to the deep trust and shared success we've built with CAF. In our previous collaboration, we witnessed how football ignited passion and inspired dreams, and how AI-powered smart technologies became powerful tools to connect and empower millions across why this partnership goes beyond the game—it stands as a symbol of ambition and a platform where young people can shine, united by an unstoppable spirit of progress. It reflects our shared vision of harnessing AI-driven innovation to shape a brighter future for Africa. This renewed collaboration marks a significant milestone in TECNO's journey forward.'In addition, TECNO will continue its Dream on the Field Renovation Campaign in cooperation with CAF, launched in 2024. The philanthropic initiative aims to bring more empowerment to African football through technology and to foster youth engagement by improving access to quality playing fields in underserved communities, reflecting TECNO's enduring 'Stop at Nothing' ethos.Véron Mosengo-Omba, CAF General Secretary, said: 'TECNO's longstanding support for football in Africa has had a meaningful impact on the development of the sport. As the highest-profile football tournament on the continent, the Africa Cup of Nations symbolizes passion and the achievement of life-long dreams, resonating with young people's hope for the future and spirit of exploration. Deepening this partnership will help to ensure that AFCON 2025 and 2027 reach new heights of excitement to delight football fans.' The partnership represents a milestone for TECNO in further strengthening its emotional bond with younger generations by empowering them to achieve more possibilities, building on its position as a leading brand among the entire African continet through its imaging technology, product performance and design aesthetics. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Roya News
5 days ago
- Roya News
ECB cuts rate again facing growth, tariff woes
The European Central Bank's easing cycle reached the one-year mark Thursday when policymakers delivered another interest rate cut as concerns mount about the struggling eurozone economy and global trade tensions. The ECB cut its key deposit rate a quarter point to two percent, as widely expected, its seventh consecutive reduction and eighth since June last year when it began lowering borrowing costs. It also lowered its inflation forecast for 2025, with consumer price increases now expected to hit the central bank's two-percent target this year. With inflation under control following a post-pandemic surge, the ECB has shifted its focus to dialling back borrowing costs to boosting the beleaguered economies of the 20 countries that use the euro. US President Donald Trump's tariffs have added to an already uncertain outlook for the single-currency area, with Europe firmly in his crosshairs, fuelling fears about a heavy hit to the continent's exporters. Announcing the rate decision, the ECB struck a measured tone about the US levies and the potential for retaliation. It noted that the "uncertainty surrounding trade policies is expected to weigh on business investment and exports" but added that "rising government investment in defence and infrastructure will increasingly support growth over the medium term. "Higher real incomes and a robust labour market will allow households to spend more. Together with more favourable financing conditions, this should make the economy more resilient to global shocks." It left its growth forecast for 2025 unchanged at 0.9 percent. It also said inflation was now around target -- dropping previous language that it was "on track". Eurozone inflation came in at 1.9 percent in May. All eyes will now be on ECB President Christine Lagarde's post-meeting press conference for any hints that the Frankfurt-based institution might be gearing up to pause its cuts in July to take stock of developments, as some expect. The ECB's series of cuts stands in contrast to the US Federal Reserve, which has kept rates on hold recently amid fears that Trump's levies could stoke inflation in the world's top economy. Lagarde may also face questions on her own future after the Financial Times last week reported she had discussed leaving the ECB early to take the helm of the World Economic Forum, which organises the annual Davos gathering. The ECB has insisted that Lagarde is "determined" to finish her term, which ends in 2027. Tariff blitz Trump, who argues his tariffs will bring manufacturing jobs back to the United States, has already hit the EU with multiple waves of levies. The bloc currently faces a 10-percent "baseline" tariff as well as higher duties on specific sectors. He has paused even higher rates on the EU and other trading partners to allow for talks, but he continues to launch fresh salvos that are keeping the world on edge. This week he doubled tariffs on aluminium and steel from 25 to 50 percent and last month threatened the EU with an escalation if it did not negotiate a swift deal. For the ECB, it is a tricky task to protect the eurozone from the mercurial US president's trade policies while keeping inflation stable. Trump's tariffs are expected to exert downward pressure on eurozone inflation. This is due to factors including tariff-hit China redirecting inexpensive manufactured goods to Europe, recent strengthening of the euro and potentially lower energy prices. Lower inflation and slower growth should push the ECB to make further rate cuts. As a result, ING analyst Carsten Brzeski predicted Thursday's cut "will not be the last". "Not only did US President Donald Trump make the European economy great again -- for one quarter, as frontloading of exports and industrial production boosted economic activity -- he also made inflation almost disappear," he said. There are some factors that make this uncertain though.
