Morocco-based fintech and rewards startup WafR has raised $455,000 in a round led by Launch Africa Ventures, First Circle Capital, WeLoveBuzz, with participation from a group of angel investors.
This marks WafR’s third round of funding this year, taking the total funds raised to date to $1.08 million. In April, Morocco-based fintech and rewards startup WafR, has raised $278,000 at a $7.5 million valuation in a funding round led by UM6P Ventures, Plug and Play, with participation from a group of undisclosed local and international angel investors.
Founded in 2018 by Ismail Bargach and Reda Sellak, WafR helps customers find deals and discounts on a variety of products sourced from local shops.
WafR’s ambition is to provide the best possible support to retail brands. This new investment will allow the Moroccan startup to expand its network of partner grocers and grow its teams.
Following this funding round, WafR is now valued at 9 million dollars.
The funding was raised from Launch Africa Ventures, a prestigious pan-African venture capital fund based in South Africa, First Circle Capital, WeLoveBuzz, and other business angels.
Ismail Bargach, co-founder of WafR said, “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 its ambitions in terms of expanding its network of grocers. Currently, WafR has 20,000 grocery partners and aims to reach a total of 50,000 helping its FMCG customers to deliver smart promotions that will enable them to increase their market share.
