Morocco-based fintech WafR has secured $4 million in an oversubscribed seed funding round to expand its last‑mile financial services infrastructure and grow its nationwide merchant network.
The round was co-led by LoftyInc Capital, Attijariwafa Ventures and Almada Ventures, with participation from returning investors UM6P Ventures and First Circle Capital. The investment marks one of the first deployments from LoftyInc’s newly launched Alpha Fund targeting high‑growth African startups.
Founded in 2021 by Ismail Bargach and Reda Sellak, WafR digitises neighbourhood corner stores across Morocco, enabling services such as airtime sales, bill payments and other digital transactions. The company operates through a network of nearly 20,000 active stores and plans to expand into peer‑to‑peer transfers and nationwide remittances.
“We are proud to co-lead this round and champion WafR’s bold mission,” said Mariam Kamel, Partner at LoftyInc Capital. “This investment exemplifies our commitment to backing strong founders in high-potential markets who are solving foundational challenges. WafR’s model is unlocking access to essential financial services for thousands of underserved Moroccans—and that’s precisely the kind of impact we seek to scale across Africa.”
According to the investors, the funding aligns with the Alpha Fund’s strategy to bridge the capital gap faced by African startups progressing beyond pre‑seed into later early‑stage growth, focusing on companies with proven traction but limited access to scale capital.
“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone,” said Ismail Bargach, CEO and Co-founder of WafR. “Their support brings not just capital but deep fintech experience and strong regional networks that will be instrumental as we scale our impact.”
The company said the new capital will be used to expand its distribution network and broaden its financial services offering, positioning local merchants as last‑mile fintech access points aimed at strengthening financial inclusion across Morocco.
LoftyInc Capital has previously backed several African fintech companies across multiple markets and is expanding its investment focus further into North and Francophone Africa as it looks for startups addressing large-scale digital access challenges.
