WafR Secures $4M Seed Round
Moroccan fintech WafR has raised $4 million in an oversubscribed seed round, co-led by LoftyInc Capital, Attijariwafa Ventures, and Al Mada Ventures, with participation from returning investors UM6P Ventures and First Circle Capital.
WafR is digitising Morocco’s vast network of corner stores (“hanouts”) by enabling airtime sales and bill payments, with plans to expand into peer-to-peer (P2P) transfers and nationwide remittances through its existing infrastructure. Backed by a network of nearly 20,000 active stores, the company is transforming small merchants into critical financial distribution nodes to advance financial inclusion.
The fresh capital will be deployed to expand operations and introduce additional financial services, strengthening WafR’s footprint across the Moroccan market.
Mariam Kamel, Partner at LoftyInc Capital, stated:
“We are proud to co-lead this round and champion WafR’s bold mission,” said 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.”
Ismail Bargach, CEO and Co-founder of WafR, added:
“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.”
Founded in Morocco in 2021 by Ismail Bargach and Reda Sellak, WafR continues to position itself at the forefront of fintech innovation by digitising everyday retail touchpoints and broadening access to essential financial services.
