MosaicLab, a Moroccan FinTech startup, has raised $225,000 for Konta, an invoice processing software.
MosaicLab, based in Casablanca, unveiled Konta, an invoice-to-pay automation platform driven entirely by Moroccan artificial intelligence (AI) technology.
Konta’s technology is based on a systemic method that helps players in the insurance, banking, automotive, and aerospace industries save time, money, and resources.
Each vendor transactions are audited, decreasing the intricacy of accounting functions and streamlining the approvals process.
This enables Konta support and owned enterprises to maintain relationships with their suppliers while also establishing a foundation for key business partners.
Clients have come to Konta from Europe and Africa. It’s starting its first round of funding with WITAMAX, a venture capital firm.
Large Moroccan accounts and foreign SMEs benefit from technology that streamlines the process of managing supplier spending.
Regulatory compliance hazards, omission, error, and fraud are also addressed by the startups.
Organizations can subscribe to this software as they adjust to new organizational models that do not require a large upfront expenditure.
The new funding will be used to help the startup expand both locally and internationally.