The round was oversubscribed, meaning it attracted more capital than WafR initially sought.

The financing was led by LoftyInc Capital alongside Moroccan backers Attijariwafa Ventures and Almada Ventures, with previous supporters UM6P Ventures and First Circle Capital also participating.

WafR was founded in 2021 and has built a growing network of nearly 20,000 neighborhood shops across Morocco that provide essential financial services to their communities.

Through its technology platform, these small retailers can help customers with airtime purchases, bill payments and other basic digital financial tasks.

The company plans to broaden its services in future to include person-to-person transfers and domestic remittances.

“We are proud to co-lead this round and champion WafR’s bold mission,” said Mariam Kamel, partner at LoftyInc Capital, highlighting the firm’s focus on backing strong entrepreneurs addressing fundamental challenges in emerging markets.

She added that WafR’s work is expanding access to financial tools for many underserved Moroccans, a goal LoftyInc hopes to replicate across Africa.

For WafR’s leadership, the new investment comes with more than just funds. 

Ismail Bargach, CEO and co-founder of WafR, said the involvement of these investors brings industry expertise and regional connections that will help accelerate the company’s growth.

“Their support brings not just capital but deep fintech experience and strong regional networks that will be instrumental as we scale our impact,” he said.