About BANK OF AFRICA
BANK OF AFRICA is a company based in Casablanca (Morocco) founded in 1959.. BANK OF AFRICA has raised $200 million across 2 funding rounds from investors including EBRD and British International Investment. BANK OF AFRICA offers products and services including BMCE Direct, TAPTAP SEND, and Supply Chain Finance. BANK OF AFRICA operates in a competitive market with competitors including Scotiabank, BMCI, CFG Bank, Attijariwafa bank and Crdit Du Maroc, among others.
- Headquarter Casablanca, Morocco
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$200 M (USD)
in 2 rounds
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Latest Funding Round
$54.53 M (USD), Debt – Conventional
Jun 27, 2023
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Investors
EBRD
& 1 more
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Employee Count
Employee Count
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Products & Services of BANK OF AFRICA
BANK OF AFRICA offers a comprehensive portfolio of products and services, including BMCE Direct, TAPTAP SEND, and Supply Chain Finance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for remote account management and financial transactions
Service for real-time international money transfers without fees
Tools for business financing and supply chain support
Funding Insights of BANK OF AFRICA
BANK OF AFRICA has successfully raised a total of $200M across 2 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $54.53 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Debt – Conventional — $54.5M
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First Round
First Round
(20 Jun 2019)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2023 | Amount | Debt – Conventional - BANK OF AFRICA | Valuation |
investors |
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| Jun, 2019 | Amount | Private Equity Round - BANK OF AFRICA | Valuation | British International Investment |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in BANK OF AFRICA
BANK OF AFRICA has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include EBRD and British International Investment. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Corporate advisory services are provided across multiple sectors.
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Government agency focused on small and medium-sized businesses
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by BANK OF AFRICA
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - BANK OF AFRICA
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bank Of Africa Comparisons
Competitors of BANK OF AFRICA
BANK OF AFRICA operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Scotiabank, BMCI, CFG Bank, Attijariwafa bank and Crdit Du Maroc, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking services are offered in Morocco.
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| domain | founded_year | HQ Location |
Commercial banking services are provided in Morocco.
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| domain | founded_year | HQ Location |
Commercial bank
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| domain | founded_year | HQ Location |
Commercial bank
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bank Of Africa
Frequently Asked Questions about BANK OF AFRICA
When was BANK OF AFRICA founded?
BANK OF AFRICA was founded in 1959 and raised its 1st funding round 60 years after it was founded.
Where is BANK OF AFRICA located?
BANK OF AFRICA is headquartered in Casablanca, Morocco.
Who is the current CEO of BANK OF AFRICA?
Othman Benjelloun is the current CEO of BANK OF AFRICA.
Is BANK OF AFRICA a funded company?
BANK OF AFRICA is a funded company, having raised a total of $200M across 2 funding rounds to date. The company's 1st funding round was a Private Equity Round of $200M, raised on Jun 20, 2019.
What does BANK OF AFRICA do?
BANK OF AFRICA was founded in 1959 and is headquartered in Casablanca, Morocco. As a commercial bank, various financial services including deposits, loans, and transactions are provided to clients. Operations are primarily focused within Morocco, supported by the domain bankofafrica.ma for digital access. The institution is led by CEO Othman Benjelloun, overseeing standard banking activities in the region.
Who are the top competitors of BANK OF AFRICA?
BANK OF AFRICA's top competitors include Scotiabank, Attijariwafa bank and BMCI.
What products or services does BANK OF AFRICA offer?
BANK OF AFRICA offers BMCE Direct, TAPTAP SEND, and Supply Chain Finance.
Who are BANK OF AFRICA's investors?
BANK OF AFRICA has 2 investors. Key investors include EBRD, and British International Investment.