Morocco-based startup Crealo has secured an impressive 14.1 million dirhams ($1.42 million) in seed funding, signaling a significant milestone for the copyright management firm. The funding round was led by the 212 Founders Programme, operating under CDG Invest, a flagship initiative of the CDG Group. Other contributors to the round include Kima Ventures, Evolem, Super Capital, and several angel investors.
The infusion of capital is earmarked to elevate Crealo’s product offerings, augment its workforce, and catalyze new strategic partnerships. The 212 Founders Programme played a pivotal role in this funding round, leading with a substantial investment of 4.9 million dirhams ($492,925).
Crealo, co-founded in 2021 by Mohammed Belghiti and Najlae Zeitouni, has been dedicated to addressing copyright challenges in the cultural and creative industries. Leveraging its online platform, the startup provides a comprehensive solution for organizations of diverse sizes, automating and simplifying the entire copyright royalty management process, particularly in France. The funding injection is expected to facilitate crucial advancements, solidifying Crealo’s position as a pioneering force in the copyright management sector and enhancing its service capabilities for future growth.
Najlae Zeitouni emphasized the company’s commitment to streamlining royalty payments, likening the process to the seamless nature of salary payments. Crealo’s platform enables institutions such as publishing houses to calculate and distribute royalties efficiently. Notably, the company has successfully transitioned several clients from annual to more frequent settlements, including semi-annual and quarterly structures.
Crealo boasts a distinguished client base, including prominent institutions like Palais de Tokyo, Beaux-Arts Magazine, L’Équipe, and the Muséum National d’Histoire Naturelle. This funding round positions the startup to enhance its services further and continue its mission of simplifying royalty management for its clients.
The 212 Founders Programme, established in 2019, has played a crucial role in fostering entrepreneurship and driving economic development in Morocco. With 18 successful investments in seed and Series A stages, the program has cumulatively contributed 97 million dirhams ($9.84 million) to support emerging companies. Nawfal Fassi Fihri, Director of the 212 Founders programme, expressed confidence in Crealo’s team and welcomed the company as a key player in the success story of Moroccan entrepreneurship.
Source: TechPoint Africa