WafR, a Casablanca-based retail fintech founded in 2021 by Ismail Bargach and Reda Sellak, has secured an oversubscribed $4 million seed round co-led by LoftyInc Capital, Attijariwafa Ventures, and Al Mada Ventures.
The startup converts small neighbourhood stores into digital financial service hubs, enabling services such as mobile top-ups, remittances, and cash-in/cash-out transactions. By leveraging Morocco’s extensive network of local retailers, WafR aims to bridge the gap between traditional cash-based commerce and digital financial services.
WafR currently works with nearly 20,000 active merchants and reports 29% month-on-month growth in transactions, reflecting strong demand for accessible, retail-based financial solutions. The company is targeting Morocco’s $16.5 billion financial services market as it accelerates the country’s shift toward mobile-first finance.
The latest funding marks WafR’s first major raise since securing $278,000 in 2022. The new capital will be used to expand its merchant network to 100,000 retailers and diversify its product offering into areas such as micro-insurance and credit scoring.
With rapid transaction growth and a scalable retail distribution model, WafR is positioning itself as a key enabler of financial inclusion and digital payments adoption in Morocco.
