New Investments

Moroccan Super App ORA Technologies Secures $1.5 Million to Boost Financial Inclusion

Moroccan startup ORA Technologies, known for its super app offering various services, has secured $1.5 million in seed funding from local investors.
 

This funding round follows a successful $1 million pre-seed funding secured in November 2023.

The fresh capital will be used to propel ORA’s launch of its e-wallet feature, enabling instant money transfers for users.

This functionality is being developed through a partnership with M2T, a subsidiary of Banque Centrale Populaire, ensuring secure and reliable transactions.

Founded in 2023 by Omar Alami, the ORA app boasts over 300,000 downloads and provides a comprehensive platform for Moroccans, including peer-to-peer transactions, and access to an e-commerce marketplace.

The upcoming e-wallet integration, facilitated by the M2T partnership, aims to further revolutionize financial services in Morocco.

This feature will allow users to seamlessly combine social interaction with financial transactions within the app.

“This development is a significant step towards expanding digital and financial inclusion in Morocco,” said Alami.

“We are committed to offering accessible e-commerce and digital payment solutions to all Moroccans, bridging the gap between traditional and modern commerce while fostering an inclusive digital economy.”

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