Morocco’s UM6P Ventures Funds PayLik, a Fintech Startup
UM6P Adventures, a Casablanca-based funding asset of the Mohammed VI Polytechnic College (UM6P), reported putting resources into PayLik, a fintech startup ready to rethink how pay rates are gotten to in the work environment.
The fintech startup gives an inventive arrangement that offers workers prompt admittance to a part of their pay rates through a pre-loaded card known as “Paylik,” an assertion from UM6P Adventures says.
The UM6P Adventures explanation adds that the startup intends to reclassify the customary compensation installment model by permitting workers to get to their income on various occasions each month, alleviating the monetary pressure brought about by the average 30-day pay cycle.
The arrangement plans to not just enable representatives to deal with their financial plans all the more actually yet in addition support HR divisions in their endeavors to help worker prosperity, the assertion contends.
Starting today, PayLik has 3,000 representatives enlisted on its foundation, drawing in significant organizations in different areas, including agribusiness, auto, cooking, and the travel industry.
PayLik is intending to extend its contributions to turn into a thorough monetary stage. The extension will incorporate the presentation of tech-based monetary administrations, choices for credits, financial plan training, compensation reserve funds, charge installments, and that’s only the tip of the iceberg.
Praising on the news Yassine Laghzioui, Head supervisor of UM6P Adventures, communicated the asset’s obligation to driving PayLik’s development and its capability to achieve change in the fintech area.
“Paylik adds to our fintech portfolio, a vertical we identify as having strong growth and return potential,” he said.
“Thanks to our robust partner ecosystem, UM6P Ventures is strategically positioned to catalyze Paylik’s growth trajectory. This investment will act as a lever, allowing Paylik to refine their product and create effective synergies with key players in the financial sector,” he added.
Othmane Bennani Smires, pioneer behind Paylik, said that his organization is “excited to invite UM6P Adventures as an accomplice.”
He added that his organization “will utilize the assets raised to extend our group, reinforce our innovative foundation, and backing our fast development.”
“Paylik addresses a real issue related to the fact that salaries are received on 30-day cycles,” he noted adding that “employees struggle to manage their budgets over such a long period. PayLik provides employees with financially smoother month-ends while making it easier for HR departments to manage.”
“With UM6P Ventures’ extensive network throughout Africa and deep connections with the startup community, they will consistently bring value to our efforts,” he concluded.