WafR Raises USD 4 M Seed To Scale Embedded Retail Finance In Morocco

WafR, a Casablanca-based retail fintech founded in 2021 by Ismail Bargach and Reda Sellak, has raised an oversubscribed USD 4 M seed round co-led by LoftyInc Capital, Attijariwafa Ventures, and Al Mada Ventures.

The startup transforms small neighbourhood stores into digital financial hubs, enabling mobile top-ups, remittances, and cash-in/cash-out services.

With nearly 20,000 active merchants and 29% month-on-month growth in transactions, WafR is targeting Morocco’s USD 16.5 B financial services market.

The latest funding, its first since a USD 278 K raise in 2022, will support network expansion toward 100,000 retailers and product diversification into micro-insurance and credit scoring, positioning WafR as a key player in Morocco’s shift from cash to mobile-first finance.