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Moroccan retail-tech startup WafR receives $120K in funding

WafR, a Morroccan startup that helps retail brands to deliver promotions to grocers, has raised a further $120,000 in funding to expand its network of grocers. * Founded in 2021, WafR is an app that enables retail brands to broadcast and deliver smart promotions to grocers in order to increase

Acquah Nana Yeboah profile image
by Acquah Nana Yeboah
Moroccan retail-tech startup WafR receives $120K in funding
Photo by Barthelemy de Mazenod / Unsplash

WafR, a Morroccan startup that helps retail brands to deliver promotions to grocers, has raised a further $120,000 in funding to expand its network of grocers.

  • Founded in 2021, WafR is an app that enables retail brands to broadcast and deliver smart promotions to grocers in order to increase their market share in the traditional channel.
  • This latest investment values the startup at $10.12 million. Earlier this year, WafR closed a $1 million seed round participation from First Circle Capital. Now, it's getting an additional $120,000 to from First Circle Capital to enable it expand its network of grocers and reach 50,000 active partner grocers within six months.
  • “This new round of financing reflects the ambition of the entire WafR team, which is united around a single objective: to provide the best possible support to retailers and FMCG brands,” said Ismail Bargach, co-founder of WafR.
  • “At First Circle Capital, we want to support fintechs in Morocco, in particular, and in Africa, in general. After a first investment, we are delighted to announce a new investment of greater size." Selma Ribica, co-founder and managing partner at First Circle Capital said.
  • Adding that "WafR is uniquely positioned at the crossroads of retail and fintech in Morocco and continues to innovate by providing retail brands with an ever-growing network of partner grocers."
Acquah Nana Yeboah profile image
by Acquah Nana Yeboah

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