After an initial 15% stake in the capital of Badeel, Sofac is moving up a gear and announces the acquisition of the entire capital of the specialist in LLD and mobility services.
It’s time for a new stage of growth for Sofac. By buying 100% of the capital of Badeel, the start-up specializing in long-term rental (LLD) and mobility services, the credit institution has thus taken exclusive control. This operation completes an initial 15% stake, made in February 2021, which aimed to develop synergies between the two entities. Said operation made it possible to identify “a potential contribution of Badeel’s activities to Sofac’s development plan”, affirms the credit operator in its communication.
Sofac has clearly identified this potential, particularly in the car financing offer and the marketing of mobility services. By kicking off the marketing of its LLD offers in October 2019, Badeel had already innovated in the sector by offering, for the first time in Morocco, offers with high added value. Let us mention, in particular, the possibility of taking advantage of this mode of access to the automobile as much for companies and the liberal professions as for individuals who until then could not contract a vehicle in LLD.
Among the other options offered, the renewal of the vehicle every 15, 16 or 18 months depending on the duration of the contract, as well as the generalization of the “all-inclusive” monthly payment and the “premium service” to all its customers. Subsequently, Badeel extended its offer, allowing companies and individuals to delegate the management of their car fleets to it through the Optimiz and Hany mobility services. The startup also offers second-lease vehicles to its customers with the development of a commercial brand for the sale of used vehicles.
It should be noted that this acquisition is part of Sofac’s expansion and diversification strategy, geared towards conquering new markets and developing innovative activities and services enabling long-term profitability. The company is thus pursuing its growth strategy while investing in the LLD and smart mobility segment. It will now be able to offer “all-inclusive” offers to its customers who will benefit from all the advantages of LLD, such as budget optimization, maintenance, insurance and assistance.
Sanae Raqui / ECO Inspirations