According to the annual barometer established by Happy Smala and IDinsight, Morocco's collaborative financing sector achieved a total of 7.62 million dirhams in 2025. This was made possible through 731 campaigns and the participation of 12,161 contributors. The data indicates that the sector is growing, with various platforms and operators contributing to this development. The barometer provides valuable insights into the state of collaborative financing in Morocco.
The average campaign statistics reveal that each campaign had 16.6 contributors, with a contribution of 627 dirhams and a total amount collected of 10,423 dirhams. These numbers suggest that the campaigns were relatively small in scale. The Moroccan platforms accounted for 3.15 million dirhams, which is approximately 41% of the total amount collected. The remaining amount was raised through foreign platforms.
Two national operators, Kiwi Collecte and Akkan Crowdfunding, were included in the study for the first time. This expansion of the study's scope provides a more comprehensive understanding of the collaborative financing landscape in Morocco. Additionally, 35.5% of the campaigns analyzed achieved at least half of their funding objectives, indicating a sign of maturation in the market.
The barometer is part of the implementation of Law 15.18, which regulates collaborative financing. The law has led to the establishment of the first licensed platforms. A notable achievement under this law was the first collaborative lending operation conducted by Wasit on the Akkan Crowdfunding platform. This development demonstrates the progress being made in the sector.
The results of the study were presented at the second edition of the Moroccan Impact Finance Forum, held on September 10 at the Technopark in Casablanca. The study is part of the Impact Together program, which is implemented with Impact Europe and funded by the European Union. An additional workshop was organized with SimSim Participation Citoyenne to formulate recommendations for improving the law.
Despite the progress made, the amounts collected through collaborative financing remain relatively small compared to traditional financing methods such as banking and capital markets. However, the significance of this sector lies in its ability to support the launch of associative projects and small businesses. The sector's impact is more pronounced at the micro-level rather than at the macroeconomic level.
The study's findings highlight the potential for growth and development in Morocco's collaborative financing sector. As the sector continues to mature, it is likely to play an increasingly important role in supporting small businesses and associative projects. The implementation of Law 15.18 and the establishment of licensed platforms are expected to contribute to the sector's growth.
Key points
- Collaborative financing in Morocco reached 7.62 million dirhams in 2025 through 731 campaigns and 12,161 contributors.
- Moroccan platforms accounted for 41% of the total amount collected, with the remaining amount raised through foreign platforms.
- The sector's growth is significant, with 35.5% of campaigns achieving at least half of their funding objectives.
