Morocco-based fintech WafR has raised $4 million in an oversubscribed seed round to accelerate its expansion of last-mile financial services across the country. The round was co-led by LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures, with participation from returning investors UM6P Ventures and First Circle Capital.
Founded in 2021 by Ismail Bargach and Reda Sellak, WafR is building financial infrastructure through Morocco’s neighbourhood “hanouts” — small corner shops that form the backbone of local commerce. The startup has digitised services such as airtime sales and bill payments across a network of nearly 20,000 active stores. It now plans to expand into peer-to-peer transfers and nationwide remittances, further embedding financial access into everyday retail touchpoints.
The fresh capital will be deployed to scale WafR’s distribution footprint and deepen its product suite, positioning local merchants as fintech access points for underserved communities. By transforming corner stores into digital financial hubs, the company aims to strengthen financial inclusion and reduce reliance on traditional banking infrastructure.
For LoftyInc Capital, the investment marks one of the first from its newly launched LoftyInc Alpha Fund. The firm says the fund is designed to address Africa’s “graduation gap” — the funding bottleneck that often prevents promising startups from progressing beyond pre-seed. By focusing on late-seed and Series A opportunities, LoftyInc aims to back ventures that have proven traction but limited access to growth capital.
LoftyInc’s fintech track record includes early investments in Flutterwave, Moove, and Wave, among other high-growth startups across the continent. With more than a decade of venture investing and multiple unicorns in its portfolio, the firm is increasingly expanding its footprint into North and Francophone Africa.
For WafR, the entry of new institutional investors brings more than just capital. As the company scales, it gains access to regional networks and fintech expertise that could prove decisive in building one of Morocco’s most extensive last-mile financial service platforms.
