ORA Technologies, a superapp based in Morocco, has successfully raised $1.9 million in a pre-Series A funding round, led by local investment firms Witamax and Azur Innovation Management. This latest funding round brings the total amount raised by ORA Technologies to $4.4 million since its establishment in 2023, showcasing the growing confidence among local investors in the startup’s potential to foster digital and financial inclusion within Morocco.
The recent investment highlights the increasing support for homegrown Moroccan tech startups from domestic investors. With Witamax and Azur Innovation Fund now part of its investor group, ORA Technologies is well-positioned to accelerate the expansion of its services, particularly its financial services platform, ORA Cash, as well as the growth of its e-commerce and service marketplace, KooulMaroc.
Founded by Omar Alami in 2023, ORA Technologies has created a comprehensive mobile application that integrates various functionalities, including peer-to-peer (P2P) transactions, an e-commerce platform, on-demand services, chat features, social networking, and a digital wallet. The startup’s mission is to consolidate multiple services into a single platform, simplifying digital transactions and enhancing financial accessibility for Moroccan consumers.
The newly acquired capital will be utilized to broaden the market reach of KooulMaroc and to scale ORA Cash, the company’s mobile wallet solution. ORA Cash enables users to perform instant money transfers, make digital payments via QR codes, and manage their financial transactions through an intuitive interface available in five languages, including Darija, Morocco’s local dialect. The company emphasizes financial inclusion as a core objective, aiming to bridge the gaps in access to digital payments for both consumers and merchants.
ORA Technologies’ strategy aligns with Morocco’s broader initiative toward digital transformation, which is being driven by government-led efforts to promote financial inclusion and encourage a shift toward a cashless economy. The startup’s rapid growth is evidenced by over 300,000 downloads since its launch, indicating a strong demand for integrated financial and digital services in the country.
Over the past year, ORA Technologies has steadily attracted investor support. In its early stages, the company secured $1 million in a pre-seed funding round, followed by a $1.5 million seed round backed by Moroccan entrepreneurs. These funds were primarily allocated to the launch of ORA Cash, which was developed in collaboration with M2T, a subsidiary of Banque Centrale Populaire, one of Morocco’s largest financial institutions.
With ORA Cash, users gain access to digital financial services that were previously inaccessible to many Moroccans, particularly those in underbanked communities. The platform facilitates seamless transactions, utility bill payments, phone top-ups, and cash withdrawals at over 5,000 partner agencies nationwide. Additionally, merchants benefit from reduced transaction costs and an expanded customer base, reinforcing ORA’s pivotal role in Morocco’s digital economy.
This funding milestone arrives at a time when Morocco is increasingly establishing itself as a burgeoning tech hub in Africa. With a population of 40 million, a stable currency, and a growing ecosystem of competitive technology entrepreneurs, Morocco is drawing significant interest from investors and industry stakeholders. The country’s commitment to digital transformation, coupled with an evolving regulatory landscape that encourages fintech innovation, creates a favorable environment for startups like ORA Technologies.
ORA Technologies Founder, Omar Alami, commented on the new funding round, saying;
This fundraising comes at a time where all eyes are on Morocco. Our country is the very next tech hub in Africa, benefiting from solid macro fundamentals, a stable currency, a deep consuming market of 40 million people and a new wave of smart and competitive tech founders empowered by a huge government-led digital and financial inclusion initiative.
ORA Technologies’ vision extends beyond food delivery and digital payments—it aims to digitally transform Morocco’s economy by seamlessly integrating e-commerce, fintech, and on-demand services. This $1.9 million funding round provides us the necessary resources to expand Kooul’s market reach, scale ORA Cash, and continue leading financial inclusion efforts in Morocco. With the backing of Witamax & Azur Innovation Fund, we are poised to shape the future of digital services in Morocco, setting new standards for fair employment in the gig economy and financial empowerment for all.
