Moroccan retail-tech startup WafR has raised an oversubscribed US$4 million seed round of funding to power 20,000 corner stores as fintech access points.
Founded in 2021, WafR is an app that enables retail brands to broadcast and deliver smart promotions to grocers in order to increase their market share in the traditional channel.
The US$4 million seed round of funding was led by LoftyInc Capital, Attijariwafa Ventures and Almada Ventures, with participation from returning investors UM6P Ventures, and First Circle Capital.
“The entest of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone,” declared Ismail Bargach, CEO and co-founder of WafR. “Their support brings not just capital, but deep fintech experience and strong regional networks that will be instrumental as we scale our impact.”
“We are proud to co-lead this round and champion WafR’s bold mission,” declared Mariam Kamel, partner at LoftyInc Capital. “This investment exemplifies our commitment to backing strong founders in high-potential markets who are solving foundational challenges. WafR’s model is unlocking access to essential financial services for thousands of underserved Moroccans – and that’s precisely the kind of impact we seek to scale across Africa.”
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