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Moroccan fintech startup WafR has successfully closed a $4 million seed funding round, attracting strong interest from regional and international investors. The round was led by LoftyInc Capital, Attijariwafa Ventures, and Al Mada Ventures, with participation from previous investors including Mohammed VI University and First Circle Capital.

Founded in 2021 by Ismail Barghash and Reda Sellak, WafR focuses on digitizing Morocco’s retail sector, particularly small grocery stores. The platform currently connects around 20,000 active stores nationwide, offering services such as mobile top-ups, bill payments, and other digital services.

The company plans to use the new funding to expand its geographic reach and develop additional products. WafR aims to launch person-to-person money transfers and domestic cash transfers, transforming local stores into key financial access points and advancing financial inclusion for the unbanked population in Morocco.

Maryam Kamel, partner at LoftyInc Capital, highlighted the strategic importance of the investment, noting that WafR’s business model opens thousands of opportunities for Moroccans to access financial services, while also addressing the funding gap faced by African startups. CEO Ismail Barghash emphasized that the involvement of these partners brings deep fintech expertise and strong regional networks, accelerating the company’s impact in the Moroccan market.