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Morocco-based fintech and rewards startup WafR has raised USD 455 K in a round led by Launch Africa Ventures, First Circle Capital, and WeLoveBuzz, with participation from a group of angel investors. The round brings the startup’s valuation to USD 9 Mn.
WafR is an app that allows users to get a promotion at the time of purchase/sale in order to steer their purchases toward a specific brand. The application aids manufacturers in increasing market share, sales volume, and profit by guiding consumer choice. The investment will be used to support the growth of the startup and importantly, to meet its ambitions in terms of expanding its network of grocers. WafR also plans to hire new talent.