Method and rules
Uback is an algorithm before it is a website. Its credibility rests on simple, public rules, identical in every country and applied without exception.
The rules
- We don’t value companies. We rank them, and give an AI-estimated order of magnitude. This order of magnitude is an indicative bracket, never a figure, computed with a published rule; only public, dated and sourced figures are used as a starting point (amounts raised, published valuations).
- A ranking is never for sale. No payment, from a company, a partner or an analyst, influences a position. Paid listing (“Challengers”) is shown separately, labelled as such, and never enters the ranking.
- No human changes the order. A reviewer may exclude a company on a traced eligibility ground, or rerun the calculation; never reorder.
- Uback never solicits. Any outgoing contact with a company, a manager or a shareholder goes through the country’s licensed partner.
- Uback is not a financial intermediary. No mandate, no negotiation, no advice, no collection of funds intended for an investment.
- Data stays in. Intentions to sell are confidential; no data is sold or passed on to third parties, except to the local partner with the declarant’s consent.
- Everything is published, everything is traced. AIs queried, date, consensus rule and eligibility criteria are public; every company has a right of reply.
- No false promises. The “Invest” column only shows a status when it is established (raise in progress, deal followed, exit). An intention that has not been converted is a transferable credit.
How the ranking is built
Every month, the same question is put to several artificial intelligences for each country and each sector: which eligible companies are the most highly valued, in order? The answers are merged into a consensus ranking (by points: 1st = 20 points, 2nd = 19, and so on). A confidence index is shown for each position: when the AIs agree, the ranking is solid; when they diverge, the divergence itself becomes information.
Edition 0 (beta). This first edition was established by a single AI (Claude, Anthropic), from desk research on the press and funding announcements, each amount being sourced. The confidence index reflects the quality of the available sources. The multi-AI consensus applies from Edition 1.
Valuation order of magnitude
Next to each company, Uback shows an AI-estimated valuation bracket: hundreds of thousands of dollars, millions, tens of millions, hundreds of millions, unicorn (over one billion) or decacorn (over ten billion). It is an indicative order of magnitude, never a figure, and it plays no part in the order of the ranking. Hover over or tap the bracket to see what the estimate is based on.
- The starting point. If a valuation was published less than 24 months ago, it is the anchor. Otherwise, Uback starts from the last equity round with a disclosed amount: investors usually take 15 to 25% of the capital, so the post-money valuation is estimated at 4 to 6.7 times the amount raised. Debt and grants are never used as an anchor.
- A limited adjustment. The AI may shift the estimate by one bracket at most, up or down, based on public facts: a later round of undisclosed size, revenue, profitability, a licence, a restructuring… Every adjustment is justified and shown.
- The lower-bound rule. The bracket shown is the one containing the bottom of the estimated range: between two brackets, Uback keeps the more cautious one.
- The confidence index. High: a published valuation, or a disclosed and confirmed round, less than 24 months old. Medium: a round over 24 months old, or only the total raised is known. Low: a single source or conflicting sources.
- “Not estimated”. When no equity round has a disclosed amount, when there is only debt or grants, or when the anchor rests on an uncertain source, Uback shows no bracket rather than a fragile figure.
- Report an error. Each line of the ranking lets the company concerned report an error to contact@uback.com. Every correction is traced.
These orders of magnitude are indicative editorial estimates: they are neither a financial valuation, nor an offer, nor investment advice.
Eligibility
| Rule | Application |
|---|---|
| Technology or innovative company | Starting scope; the sector tree is public and evolving. |
| One main activity, one sector | Conglomerates and multi-activity companies are excluded. A company appears in one ranking only. |
| Has raised funds | At least USD 500k (or equivalent) in equity or debt, verifiable (public announcement, register, or partner attestation). A grant is not a funding round. Debt is distinguished from equity. |
| Non-listed | Listed companies are benchmarks, shown separately, never ranked. |
| Active | A company acquired, closed or in insolvency proceedings leaves the ranking; history keeps its positions. |
| Main operations in the country | A ranking’s country is the country of operations (team, market), whatever the legal seat. The legal seat and the law governing the shares are shown on each profile. Companies of local origin operated abroad appear in “Born here, based elsewhere”. |
The “Invest” column
Every ranked company offers the “Declare an intent” button. A discreet badge is added only when a fact is established: “Raise in progress” when the company is raising funds, “Followed by…” when the country’s licensed partner has an open deal. An acquired company shows “Exit”, with the acquirer’s name when known, and no longer accepts intentions. Listed companies are not ranked: they appear among the listed benchmarks.
What happens after my declaration?
An intention declaration is paid (price per country and per ticket band), valid for twelve months, and transferable: as long as it has not been converted, you can delete it and move its credit to another company or a sector. Uback does not promise a deal. It promises that your intention, aggregated with those of other Backers, counts towards critical mass: when the number of Backers and the total of their intentions cross a threshold, the country’s licensed partner contacts the company and presents this demand. If the company’s expectations and the Backers’ converge, the partner structures a transaction and presents it directly to the Backers concerned, under its own name and regulatory responsibility. Small tickets are pooled in a common vehicle set up by the licensed partner; each Backer decides whether to take part. In Morocco, intention declarations will open once the partner signs.
Right of reply and corrections
Any company mentioned may request the correction of an information (amount, date, sector, status), dispute its position or ask to be removed, by writing to corrections@uback.com. Every request receives a reasoned answer. Managers can claim their company’s profile to publish their indicators and declare an intention to raise funds.
Sources
Moroccan and international business and technology press (Médias24, Le Desk, TelQuel, L’Economiste, Challenge, LesEco, Le Matin, Agence Ecofin, TechCrunch, TechCabal, Wamda, Disrupt Africa), Partech Africa and UM6P Ventures reports, investor announcements. Every amount in the ranking links to its source.