Tunisia’s Biware raises $1.2 million Seed round
- Tunisia-based data management and analysis startup Biware, has raised $1.2 million (MAD3.5 million) in its Seed funding round from CDC Gestion and Zitouna Capital.
- Founded in 2011 by Mohamed Amine Boussarsar and Walid Kaâbachi, BIWARE is a technology firm that assists businesses in extracting value from their data for strategic purposes, such as increasing revenues, lowering costs, and reducing losses.
- Biware aims to utilise this funding to grow its team to hundred engineers and establish three African and European branches by 2025.
We are pleased to announce the closing and success of our first fundraising valued at MAD3.5 million ($1.2 million) from CDC Gestion and Zitouna Capital.
This fundraising symbolises an important milestone for the company, which already has 11 years of existence on the African and European markets, allowing it to realise its strategic development plan (2021–2026) supported and financed by the EBRD, in partnership with PROQUAL. This plan concerns the commercial and operational development, as well as the software development dedicated to Analytics and Artificial Intelligence (AI).
On this occasion, the company organised a ceremony that took place on Wednesday, September 22, 2021, at the Movenpick Les Berges du Lac hotel, Tunis, Tunisia, in the presence of Biware executives, its founders and associate director, Mr. Mohamed Amine Boussarsar and Mr Walid Kaâbachi, and representatives of investors CDC Gestion and Zitouna Capital chaired by their respective Managing Directors Mr. Tarak Triki and Mr Mounir Fakhet.
Created in 2011, BIWARE is a technological SMB of about thirty engineers whose mission is to support companies in creating value from their data for strategic purposes, namely, increasing revenues, optimizing costs and reducing losses. We provide verticalized solutions with SAS® and Microsoft technologies® to address business issues and assist customers in decision-making, such as customer knowledge and targeting, fraud detection and management, and demand forecasting.
Biware has a portfolio of about fifty customers (mainly large companies) in the finance, telecommunications, retail, service and energy sectors, in the African and European markets.
Our first customers were telecommunications operators, a sector in strong competition, where the detailed knowledge of the behaviour of their customers is a strategic lever for marketing to capture, increase revenue and retain the customer. Africa’s financial and energy sectors followed suit from 2016 onwards.
Starting in 2018, we began investing heavily in the development of digital products and accelerators around the analytical core in verticalised areas, such as finance and human capital management, to meet the emerging needs of the small and medium-sized business market segment. We are convinced that to gain competitiveness companies must profoundly transform their organisation by automating and gradually introducing artificial intelligence into their internal and external processes (customers, partners and suppliers).
Through this fundraising, Biware aims to reach the size of a hundred engineers and 3 African and European branches by 2025.