Moroccan fintech WafR has successfully closed a $4 million oversubscribed seed round to advance its mission of strengthening financial inclusion across the country. The round was co-led by pan-African VC LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures, with continued participation from returning investors UM6P Ventures and First Circle Capital.
Digitizing Morocco’s ‘Hanouts’
Founded in 2021 by Ismail Bargach and Reda Sellak, WafR is transforming access to financial services by digitising Morocco’s vast network of neighbourhood corner stores, or ‘hanouts’. The company operates a network of nearly 20,000 active merchants, turning them into critical last-mile access points for the underbanked population.
Through its platform, these local stores can offer services such as airtime sales, bill payments, and other digital transactions, effectively becoming vital distribution nodes for financial services in their communities.
Investor Confidence and Strategic Backing
The investment marks a significant milestone for WafR and is one of the first from LoftyInc Capital’s newly launched LoftyInc Alpha Fund, which targets late-seed and Series A-stage companies to bridge the “graduation gap” for promising African startups.
“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.”
The strategic support from the new investors was a key draw for the fintech’s leadership.
“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone,” commented 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.”
Fueling Nationwide Expansion
WafR will use the new capital to significantly expand its distribution network of partner merchants and broaden its financial services offerings. The company plans to introduce peer-to-peer transfers and nationwide remittances, further cementing the role of local shops as essential fintech hubs and driving deeper financial inclusion throughout Morocco.
About WafR
WafR is a Moroccan fintech startup founded in 2021 by Ismail Bargach and Reda Sellak. The company digitises neighbourhood corner stores to act as last-mile access points for financial services. Its network of nearly 20,000 active merchants provides essential services like airtime sales and bill payments, with a mission to strengthen financial inclusion across the country.
Source: Wamda
