Morocco-based fintech startup Gwala has raised an undisclosed pre-seed round led by a group of prominent investors who share the company's vision and mission.
Founded in 2022, Gwala is an innovative fintech company that provides an on-demand payment solution for employees and employers in Morroco.
With employees in Morocco paid on a monthly basis, leaving them vulnerable to unexpected expenses, or the need to take on debt to make ends meet, Gwala offers employees real-time access to their earned wages without having to wait for payday.
This unique platform has revolutionalised employees' access to their wages in the country while helping its partner corporations offer financial wellness benefits to attract and retain workers.
According to the company, the new capital will be used to further develop the platform, expand its reach, and hire new talent to support the company's growth toward bringing financial freedom to more workers in Morocco.