Morocco’s FinTech and rewards startup WafR raises $455k

Morocco’s FinTech and rewards startup WafR raises $455k

WafR, FinTech startup that allows retail brands to broadcast smart promotions to grocers to increase their market share on the traditional channel, raises $455k from Launch Africa Ventures, First Circle Capital, WeLoveBuzz and other business angels.

The fund is in addition to the $620k it had previously raised, it will use the new investment to expand its network of partner grocers and grow its teams.

“We are very pleased with the group of investors we were able to secure in this new funding round and are proud of the strong growth experienced by WafR over the past 12 months. These funds will be used to support the growth of the startup but also, and most importantly, to meet our ambitions in terms of expanding our network of grocers,” Ismail Bargach, co-founder of WafR, said.

This investment will also allow the moroccan startup to expand its team by hiring a late co-founder and accelerate its commercial activities.

Also read: Morocco-based loyalty startup WafR raised $278k

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