In its second technology investment since the formation of a dedicated technology fund earlier this year, Doughty Hanson has taken an undisclosed stake in Internet-based global transaction company Marrakech.
The company operates the Marrakech Global Commerce Network, an Internet-based trading utility that integrates procurement and payment services for its member firms. Marrakech claims to offer the first service that brings together buyers, suppliers, banks and intermediaries and enables them to complete end-to-end commercial transactions. Marrakech has offices in Dublin, London, Paris, Dallas, Mexico City and Singapore.
George Powlick of the Doughty Hanson Technology Fund, who joins Marrakech’s board, says that the company’s network “offers compelling value to all parties of a commercial transaction”.