Groupe Richbond completed the acquisition of a 40% stake in Cash Plus from Mediterrania Capital.

Groupe Richbond, a Moroccan industrial and property conglomerate, completed the acquisition of a 40% stake in Cash Plus, an independent money transfer company, from Mediterrania Capital, a private equity firm focused on growth investments. Financial terms were not disclosed. “Four years after our investment, Cash Plus has grown to become a strong company with the right basis for long-term growth. We are very pleased to have contributed to the development of a national champion in the Fintech industry in Morocco. The sale of part of our stake to Groupe Richbond fully supports Cash Plus’s future strategy in terms of product and service development and expansion continuity," Hatim Ben Ahmed, Mediterrania Capital Partner.