WafR, a Casablanca-based retail fintech, has raised $4 million in an oversubscribed seed round co-led by LoftyInc Capital, Attijariwafa Ventures, and Al Mada Ventures.
Founded in 2021 by Ismail Bargach and Reda Sellak, WafR operates a platform that enables small neighborhood stores to offer mobile top-ups, remittances, and cash-in/cash-out services. The company reports nearly 20,000 active merchants and 29% month-on-month transaction growth.
The funding will support network expansion toward 100,000 retailers and product diversification into micro-insurance and credit scoring. WafR is targeting Morocco’s $16.5 billion financial services market.
The round represents WafR’s first fundraise since raising $278,000 in 2022.
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