Deals - Dec 04, 2025

Asafo & Co. has advised Cash Plus, Morocco’s leading fintech and financial services operator, on its successful initial public offering (IPO) on the Casablanca Stock Exchange, the first fintech IPO in the Moroccan market.

The IPO attracted over 81,000 subscribers and was oversubscribed 65 times, reflecting exceptional investor interest and marking a historic milestone for Morocco’s fintech sector. Founded in 2004, Cash Plus operates a nationwide network of agencies and serves millions of mobile and digital platform users.

The IPO will support the company’s expansion, digital transformation, and efforts to enhance access to financial and proximity services across Morocco, underscoring Cash Plus’s leadership in financial inclusion, innovation, and nationwide service growth while reflecting the growing confidence in Morocco’s fintech ecosystem.

Asafo & Co. provided strategic legal advice throughout the process, demonstrating its expertise in complex capital markets transactions. The Asafo & Co. team advising on the transaction was led by partner Patrick Larrivé with support from senior associate Cyril Kalfat and associate Adji Marieme Dieng.