WafR, a reward-based loyalty startup, raised 3.5 million dirhams which amounts to almost $372k. This followed an initial investment of 300,000 dirhams made during a Moroccan TV show. WafR allows users to earn phone recharges while shopping at retail shops.
This funding has increased the company’s value to 30 million dirhams. WafR will use the fund to expand their retail network, with the goal of increasing the number of retail shops who use the app from 10,000 to 50,000.
WafR was founded in 2021, with an aim to allows user to get a promotion at the time of purchase/sale in order to steer their purchases toward a specific brand. The startup is a loyalty solution for large retailers, it aids manufacturers in increasing market share, sales volume, and profit by guiding consumer choice.
Also read: Morocco’s Freterium raises $4m in Seed round
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