Moroccan Fintech WafR Raises $4M to Help Corner Stores

Morocco's corner stores are getting a financial upgrade that could change how millions of people access basic banking services.

WafR, a fintech startup founded in 2021, just secured $4 million in seed funding to expand its digital platform that transforms traditional neighborhood shops into financial service points. The company already works with nearly 20,000 hanouts, the local corner stores that form the backbone of daily commerce across Morocco.

The funding round was co-led by LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures, with support from UM6P Ventures and First Circle Capital. For LoftyInc, this marks one of the first investments from its newly launched Alpha Fund, which targets startups facing Africa's "graduation gap" where promising companies struggle to find growth capital.

Right now, WafR merchants can offer customers airtime sales and bill payments through a simple digital platform. The startup plans to add peer-to-peer transfers and domestic remittances, turning trusted local shops into accessible banking alternatives for communities where formal financial services remain out of reach.

The investment signals Morocco's rising tech profile. The country's startups raised $58 million in 2025, ranking seventh across the continent for venture capital.

The Ripple Effect

This funding represents more than one company's growth story. It reflects a strategic shift in how investors think about financial inclusion across Africa.

By embedding services into existing informal retail networks, WafR meets people where they already shop and trust. Store owners gain new revenue streams while customers access financial tools without traveling to distant bank branches or navigating complex apps.

"We are proud to 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."

For CEO Ismail Bargach, the backing brings more than money. "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.

LoftyInc has previously backed major African fintech success stories including Flutterwave, Moove, and Wave. The firm is also expanding its North African portfolio with investments in Egyptian AI company WideBot and startups like Odiggo and Illa.

When neighborhood shops become financial access points, entire communities gain economic opportunities that were previously out of reach.