WafR Secures Oversubscribed $4M Funding Round to Expand Financial Inclusion in Morocco
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.
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.
“We are proud to co-lead this round and champion WafR’s bold mission. 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.”
– Mariam Kamel, Partner, LoftyInc Capital
This investment reflects LoftyInc Alpha Fund thesis to bridge the “graduation gap” that prevents many promising African startups from progressing beyond pre-seed. By targeting late-seed and Series A-stage companies, the fund aims to back companies with demonstrated traction but constrained access to growth capital.
“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone. Their support brings not just capital but deep fintech experience and strong regional networks that will be instrumental as we scale our impact.”
– Ismail Bargach, CEO and Co-founder, WafR
LoftyInc Capital’s track record in fintech spans some of Africa’s most notable success stories, including early bets on Flutterwave and Moove in Nigeria, Wave in Senegal, and other high-growth fintechs across the continent. With over 13 years of experience in venture and four unicorns in its portfolio, LoftyInc is now extending its reach deeper into North and Francophone Africa, identifying new champions in markets ripe for digital disruption.
