DLA Piper advises Cash Plus on attracting EUR57 million investment from Mediterrania Capital Partners

DLA Piper has advised Cash Plus on a EUR57 million investment by Mediterrania Capital Partners (MCP). The investment, executed by MCP on a cash in and cash out basis, has been made in collaboration with FMO, the Dutch entrepreneurial development bank, and the International Finance Corporation (IFC), a member of the World Bank Group.

Cash Plus, a payment institution, offers online payments and transfer services, from its network of over 3,600 physical locations across Morocco. Through this investment, Cash Plus plans to expand its network of branches, enhance its M-Wallet application, already used by over one million customers, and foster financial inclusion in Morocco.

A team from DLA Piper’s Casablanca office worked on the transaction and was led by Country Managing Partner, DLA Piper Morocco, Christophe Bachelet. He was supported by associate in the Corporate practice, Léa Attias Hazan.

Christophe commented: “This transaction will help Cash Plus significantly improve access to financial services for communities across Morocco and we are pleased to support Cash Plus on its journey towards fostering increasing financial inclusion across the country and region.”