Spotter, a Morocco-based Open Finance Startup Secures Undisclosed Funds From UM6P
Open finance start-up Spotter, based in Morocco, has received funding from UM6P Ventures in an undisclosed amount. The notification was published on the business networking site LinkedIn.
The startup participated in Morocco’s first Plug & Play acceleration program.
Spotter, a company founded by Abdele Boukachabine and Mamoune Kettani, creates an application programming interface (API)-driven platform that assists financial institutions in analyzing consumer financial data. This platform helps millions of people have easier access to credit while enhancing the capabilities of lenders and other fintech businesses.
The startup helps businesses grappling with the rising amount of returned checks by using technology like optical character recognition (OCR).
Spotter plans to make its solution available to regional banks who are interested in precise banking information about Spotter’s potential clients.
With national banks working with startups to create APIs to offer digital finance services, open banking has gained a lot of traction recently. The nation still doesn’t have a coordinated strategy for pushing standardized APIs.
