Moroccan retail-tech startup WafR closes $1.075m seed round

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Published: 2022-06-14
WafR, a retail technology firm based in Morocco, has raised $1.07 million in <strong>seed</strong> funding.

The Moroccan retail-tech firm WafR, which assists retail brands in the delivery of promotions to grocers, has successfully completed a seed round with a total funding amount of $1,075,000 in order to develop its workforce and extend its business operations.

WafR is an app that was released in 2021 and it allows retail brands to broadcast and offer intelligent promotions to grocers in order to enhance their market share in the traditional channel.

It was revealed in April by Disrupt Africa that the startup had acquired financing, and since then, the company has expanded the size of its seed round to more than one million dollars, bringing its total valuation to nine million dollars. The money came from various business angels and venture capital firms such as WeLoveBuzz, Launch Africa Ventures, and First Circle Capital.

WafR intends to invest the funds it raises in growing its personnel as well as its network of partner retailers. The young company currently has 20,000 grocery partners, but it has set a goal of reaching a total of 50,000 in order to assist its FMCG clients in the delivery of intelligent promotions that enable them to enhance their market share. Additionally, it would like to bring on another co-founder and speed up its commercial endeavors.

" We are very pleased with the group of investors we were able to secure in this new funding round and are proud of the strong growth experienced by WafR over the past 12 months," said Ismail Bargach, co-founder of WafR. "We are very pleased with the group of investors we were able to secure in this new funding round."