WafR Secures Oversubscribed $4M Funding Round to Expand Financial Inclusion in Morocco
LoftyInc Capital, a leading pan-African venture capital firm, has announced that it co-led a $4 million oversubscribed seed round in Moroccan fintech WafR, one of the first investments from its newly launched LoftyInc Alpha Fund.
The oversubscribed round was also co-led by Attijariwafa Ventures and Almada Ventures, with participation from returning investors UM6P Ventures and First Circle Capital.
WafR is revolutionising access to financial services in Morocco through a vast network of corner stores or ‘hanouts’, by digitising airtime sales and bill payments and eventually expanding to enable peer-to-peer transfers and nationwide remittances. Its platform, rooted in a network of nearly 20,000 active corner stores, is transforming these merchants into critical distribution nodes for financial inclusion.
